Business consulting services provider Huron Consulting Group Inc. (HURN) recently inked an agreement to acquire Blue Stone International LLC, a provider of Oracle professional services, for $30 million in cash. The transaction is likely to be completed by early October subject to the fulfillment of customary closing conditions and regulatory approvals.
Blue Stone focuses on providing business intelligence capabilities, advisory services and analytic solutions primarily to Chief Financial Officers (:CFO) of diverse firms. These services include strategic modeling, budgeting, forecasting and other business analytic services. Technical inputs from Blue Stone enable its clients to address complex decision-making processes through a well-informed in-depth analysis.
These complimentary services are likely to strengthen Huron’s product portfolio within the higher education and healthcare sector, and also serve as a platform for growth in other industries such as banking, hospitality, insurance, oil and gas, real estate, retail, and utilities. Post-acquisition, Blue Stone will form an integral part of the Huron Education and Life Sciences segment, which includes its Oracle ERP (Enterprise Resource Planning) services practice.
On the other hand, the acquisition will enable Blue Stone to expand its CFO-centric service capabilities for a comprehensive and integrated solution to business intelligence and ERP requirements. With complimentary service offerings and operating cultures, the combined company is likely to extend its client portfolio as well, thereby augmenting revenues.
With in-depth analysis, customized advice and tailor-made solutions for sustainable and measurable results, Huron helps clients in diverse industries to improve performance, reduce costs, leverage technology, address regulatory changes and stimulate growth. The company offers consulting services to healthcare organizations, leading academic institutions, Fortune 500 companies, governmental entities and law firms.
Huron has a Zacks Rank #2 (Buy). Other notable companies in the industry that warrant a look include Corporate Executive Board Co. (CEB), Exponent Inc. (EXPO) and The Hackett Group, Inc. (HCKT), each carrying a Zacks Rank #2 (Buy).