Huron Boosts IT Consulting Offerings with Threshold Buy
Business consulting services provider Huron Consulting Group Inc. (HURN) recently completed the acquisition of Florida-based Threshold Consulting, Inc., which will boost its information technology (“IT”) consulting offerings. Investors reacted positively to the news of the acquisition as Huron’s stock has climbed 2.5% since it announced the deal last week.
For reporting purposes, Threshold will be integrated into the company’s Huron Business Advisory segment. Financial details of the transaction were kept under wraps.
Threshold Consulting provides customer relationship management (“CRM”) consulting capabilities, cloud-based Software as a Service (SaaS) applications, business intelligence (:BI) solutions and data warehousing. These solutions integrate expertise in business and technology to help companies improve operational performance, supported by strategic partnerships with Salesforce.com, Inc (CRM), Oracle Corp. (ORCL) and others.
The acquired business will complement Huron’s existing capabilities in enterprise performance management (“EPM”), BI and analytics, while adding richer IT solutions including CRM, Salesforce.com and SaaS applications. Threshold is a Salesforce.com-registered Silver Cloud Alliance Partner, while Huron is a Platinum level member of Oracle PartnerNetwork.
Chicago-based Huron is a consulting firm with a global footprint, and is focused on five key segments: Healthcare, Legal, Education and Financial and Life Sciences. This acquisition will enable it to deepen its IT offerings to the C-suite, enabling clients to exploit data as a strategic asset to develop analytics and drive superior business performance. Huron will thus help clients to implement their financial goals and strategies more effectively.
Huron has invested nearly $51.4 million in acquisitions and strategic partnerships this year. In January, the company purchased leading life sciences consulting firm The Frankel Group Associates LLC, boosting its strategic, advanced analytics and regulatory compliance offerings to the life sciences market.
It also bought healthcare technology consulting firm Vonlay, LLC, in May. Huron, thus, continues to capitalize on lucrative investment opportunities and make strategic acquisitions in order to support its growth objectives.
Huron Consulting Group currently holds a Zacks Rank #3 (Hold). A better-ranked stock in the consulting industry is Gartner Inc. (IT), sporting a Zacks Rank #1 (Strong Buy).
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