Korn Ferry (NYSE: KFY) has announced that it has previously entered into a definitive agreement to acquire Salo, LLC. The transaction, which is subject to customary closing conditions, is expected to close February 1, 2023.
Salo is a leading provider of finance, accounting and HR interim talent, with a strong focus on serving clients in health care, among other industries. The company's substantial interim professional solutions and contract staffing expertise will enhance Korn Ferry's industry-leading organizational consulting portfolio.
Through the acquisition of Salo, Korn Ferry will further broaden its ability to deliver to organizations experienced professionals, who will take on impactful roles on an interim or project basis, particularly in the high-demand areas of finance, accounting and HR.
Korn Ferry's world-class brand, vast intellectual property and five decades of organizational consulting expertise are a firm foundation for continuing to scale in today's highly segmented professional and interim solutions market.
"Salo will be a great fit, with highly relevant interim professional offerings and expertise that speak to today's world of work – a new workscape in which more than one-third of the U.S. workforce alone considers themselves to be independent," said Gary D. Burnison, CEO, Korn Ferry. "The Salo acquisition reflects our continued focus on high-demand areas emerging in this environment, as we scale our solutions at the intersection of talent and strategy."
"Now, with Korn Ferry, we will be part of a global network of colleagues, with access to vast IP and more expansive client relationships and opportunities at every turn," said Lisa Brezonik, CEO of Salo. "Our track record of success and deep interim professional solutions expertise, combined with Korn Ferry's expansive credentials, will provide clients with greater opportunities to make an impact. We're excited to be joining Korn Ferry and look forward to what the future holds."
Terms of the deal were not disclosed. The acquisition is expected to be immediately accretive to Korn Ferry's adjusted earnings. SOURCE: Korn Ferry
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