Mercer Management Consulting has entered into a definitive agreement to acquire the Continental Europe, Middle East and South American operations of DiamonCluster International, Inc. The transaction is scheduled to close July 31, 2006.
The acquired operations in Paris, Munich, Madrid, Barcelona, Dubai and Sao Paulo include 150 strategy and operations consultants to the telecommunications and high-tech industries. In Europe, the newly combined firms telecommunications and high-tech industry practice will become the second largest consultancy serving this sector, according to Mercer.
Under the terms of the deal, Mercer Management will acquire the stock of five DiamondCluster subsidiaries in France, Germany, Spain, Brazil and the United Arab Emirates in a stock sale for $20 million in cash, plus approximately $10 million in cash for excess working capital. Mercer Management expects the total value of the transaction at closing to be approximately $30 million.
The acquired operations in Paris, Munich, Madrid, Barcelona, Dubai and Sao Paulo include 150 strategy and operations consultants to the telecommunications and high-tech industries. In Europe, the newly combined firms telecommunications and high-tech industry practice will become the second largest consultancy serving this sector, according to Mercer.
Under the terms of the deal, Mercer Management will acquire the stock of five DiamondCluster subsidiaries in France, Germany, Spain, Brazil and the United Arab Emirates in a stock sale for $20 million in cash, plus approximately $10 million in cash for excess working capital. Mercer Management expects the total value of the transaction at closing to be approximately $30 million.
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