Korn Ferry Acquires Salo, LLC
Ticker: KFY · Form: 8-K · Filed: Sep 5, 2024 · CIK: 56679
Sentiment: neutral
Topics: acquisition, talent-solutions, interim-executives
Related Tickers: KFY
TL;DR
Korn Ferry buys Salo LLC to boost interim exec talent biz.
AI Summary
Korn Ferry announced on September 4, 2024, that it has entered into a definitive agreement to acquire Salo, LLC, a leading provider of interim executive talent solutions. The acquisition is expected to close in the second quarter of Korn Ferry's fiscal year 2025, subject to customary closing conditions. This strategic move aims to enhance Korn Ferry's interim executive business and expand its reach in the market.
Why It Matters
This acquisition strengthens Korn Ferry's position in the interim executive talent market, potentially leading to increased revenue and market share in a growing segment of the HR services industry.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies, which could impact Korn Ferry's financial performance.
Key Players & Entities
- Korn Ferry (company) — Acquiring company
- Salo, LLC (company) — Acquired company
- September 4, 2024 (date) — Date of definitive agreement
- second quarter of Korn Ferry's fiscal year 2025 (date) — Expected closing period
FAQ
What is the primary strategic rationale behind Korn Ferry's acquisition of Salo, LLC?
Korn Ferry aims to enhance its interim executive business and expand its market reach through the acquisition of Salo, LLC, a provider of interim executive talent solutions.
When is the acquisition of Salo, LLC expected to be completed?
The acquisition is expected to close in the second quarter of Korn Ferry's fiscal year 2025.
What type of services does Salo, LLC specialize in?
Salo, LLC is a leading provider of interim executive talent solutions.
Are there any conditions precedent to the closing of the Salo, LLC acquisition?
Yes, the acquisition is subject to customary closing conditions.
What is Korn Ferry's fiscal year end date?
Korn Ferry's fiscal year ends on April 30.
Filing Stats: 583 words · 2 min read · ~2 pages · Grade level 10.7 · Accepted 2024-09-05 06:53:07
Key Financial Figures
- $0.01 — ich Registered Common Stock, par value $0.01 per share KFY New York Stock Exchange
- $0.37 — he "Board") declared a cash dividend of $0.37 per share that will be paid on October
Filing Documents
- kfy-20240904.htm (8-K) — 24KB
- kfy-2024731xex991q1fy25.htm (EX-99.1) — 340KB
- a12a.jpg (GRAPHIC) — 25KB
- capturea.jpg (GRAPHIC) — 8KB
- 0001628280-24-039473.txt ( ) — 556KB
- kfy-20240904.xsd (EX-101.SCH) — 2KB
- kfy-20240904_lab.xml (EX-101.LAB) — 22KB
- kfy-20240904_pre.xml (EX-101.PRE) — 13KB
- kfy-20240904_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On September 5, 2024, Korn Ferry (the "Company") issued a press release announcing its first quarter fiscal year 2025 results. A copy of the press release is attached hereto as Exhibit 99.1. The information in this Item 2.02 and the exhibit hereto are furnished to, but not filed with, the Securities and Exchange Commission.
01 Other Events
Item 8.01 Other Events. On September 4, 2024, the Board of Directors of the Company (the "Board") declared a cash dividend of $0.37 per share that will be paid on October 15, 2024 to holders of the Company's common stock of record at the close of business on September 19, 2024. The declaration and payment of future dividends under the quarterly dividend policy will be at the discretion of the Board and will depend upon many factors, including the Company's earnings, capital requirements, financial conditions, the terms of the Company's indebtedness and other factors that the Board may deem to be relevant. The Company may amend, revoke or suspend the dividend policy at any time and for any reason at its discretion.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit 99.1 Press Release, dated September 5, 2024. Exhibit 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KORN FERRY (Registrant) Date: September 5, 2024 /s/ Robert P. Rozek (Signature) Name: Robert P. Rozek Title: Executive Vice President, Chief Financial Officer and Chief Corporate Officer