Korn Ferry Acquires Salo, LLC
Ticker: KFY · Form: 8-K · Filed: Dec 5, 2024 · CIK: 56679
Sentiment: neutral
Topics: acquisition, consulting, talent-solutions
Related Tickers: KFY
TL;DR
Korn Ferry is buying Salo, LLC to boost its interim exec and consulting biz.
AI Summary
Korn Ferry announced on December 4, 2024, that it has entered into a definitive agreement to acquire Salo, LLC, a leading provider of interim executive and specialized consulting services. The acquisition is expected to close in the first quarter of fiscal year 2025, subject to customary closing conditions. This strategic move aims to enhance Korn Ferry's interim executive solutions and expand its consulting capabilities.
Why It Matters
This acquisition will bolster Korn Ferry's interim executive and consulting services, potentially leading to increased revenue and market share in the talent solutions sector.
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) — Registrant and acquirer
- Salo, LLC (company) — Target company being acquired
- December 4, 2024 (date) — Date of the definitive agreement
- first quarter of fiscal year 2025 (date) — Expected closing period for the acquisition
FAQ
What is the primary purpose of Korn Ferry's acquisition of Salo, LLC?
Korn Ferry is acquiring Salo, LLC to enhance its interim executive solutions and expand its specialized consulting capabilities.
When is the acquisition of Salo, LLC expected to be completed?
The acquisition is expected to close in the first quarter of fiscal year 2025.
What type of services does Salo, LLC specialize in?
Salo, LLC is a leading provider of interim executive and specialized consulting services.
What are the conditions for the closing of the Salo, LLC acquisition?
The acquisition is subject to customary closing conditions.
What is Korn Ferry's primary business?
Korn Ferry is in the business of providing talent solutions, including executive search, organizational consulting, and interim professional services.
Filing Stats: 583 words · 2 min read · ~2 pages · Grade level 10.8 · Accepted 2024-12-05 06:50:51
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 January
Filing Documents
- kfy-20241204.htm (8-K) — 24KB
- kfy-20241031xex991q2fy25.htm (EX-99.1) — 565KB
- a12a.jpg (GRAPHIC) — 25KB
- capturea.jpg (GRAPHIC) — 8KB
- 0001628280-24-049978.txt ( ) — 791KB
- kfy-20241204.xsd (EX-101.SCH) — 2KB
- kfy-20241204_lab.xml (EX-101.LAB) — 22KB
- kfy-20241204_pre.xml (EX-101.PRE) — 13KB
- kfy-20241204_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On December 5, 2024, Korn Ferry (the "Company") issued a press release announcing its second 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 December 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 January 15, 2025 to holders of the Company's common stock of record at the close of business on December 20, 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 December 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: December 5, 2024 /s/ Robert P. Rozek (Signature) Name: Robert P. Rozek Title: Executive Vice President, Chief Financial Officer and Chief Corporate Officer