CHICAGO--(BUSINESS WIRE)--Huron Consulting Group (NASDAQ: HURN), a leading provider of business consulting services, today announced that it has entered into an agreement to acquire Cloud62, a fast-growing firm specializing in complex Salesforce.com implementations and related cloud-based applications. The addition of Cloud62 will expand Huron’s Salesforce.com offerings to clients across multiple industries, including healthcare, higher education, manufacturing, retail and financial services.
“Cloud62 is an innovative partner in the Salesforce ecosystem,” said Jay Laabs, managing director and practice leader of Huron Consulting Group’s Enterprise Performance Management & Analytics practice. “The addition of the Cloud62 team will enhance Huron’s capabilities in a number of areas, but particularly in engaging our clients’ customers through the Salesforce platform.”
Cloud62 is based in Buffalo, N.Y., and is led by Raj Suchak, who founded the company in 2011. Suchak will join Huron as a managing director.
“We are pleased to join forces with the highly respected team at Huron. Together, we can assist companies in leveraging data within their enterprise to enhance customer experience—a priority in today’s competitive marketplace,” said Suchak. “Cloud62’s understanding of Salesforce combined with Huron’s industry expertise and analytics services will allow us to better serve our clients.”
For reporting purposes, Cloud62 will be included in the Huron Business Advisory segment, which includes the EPM & Analytics practice. Terms of the acquisition, which is expected to close in October 2015, were not disclosed.
About Huron’s Enterprise Performance Management & Analytics Practice
Huron’s Enterprise Performance Management & Analytics practice delivers solutions that help organizations manage and optimize their financial performance, operational efficiency, and client experience. With expertise in full-service enterprise performance management, business analytics, CRM, and big data professional services, Huron helps global clients across industries drive results and gain competitive advantage. Our comprehensive offerings include organizational improvements and software consulting leveraging both cloud and on-premise configurations. Huron is a Platinum level member of Oracle PartnerNetwork (OPN) and a Silver level partner of the Salesforce.com partner network.
About Huron Consulting Group
Huron Consulting Group helps clients in diverse industries improve performance, transform the enterprise, reduce costs, leverage technology, process and review large amounts of complex data, address regulatory changes, recover from distress and stimulate growth. Our professionals employ their expertise in finance, operations, strategy, analytics, and technology to provide our clients with specialized analyses and customized advice and solutions that are tailored to address each client's particular challenges and opportunities to deliver sustainable and measurable results. The Company provides consulting services to a wide variety of both financially sound and distressed organizations, including healthcare organizations, leading academic institutions, Fortune 500 companies, governmental entities and law firms. Huron has worked with more than 450 health systems, hospitals, and academic medical centers; more than 400 corporate general counsel; and more than 400 universities and research institutions. Learn more at www.huronconsultinggroup.com.
Statements in this press release that are not historical in nature, including those concerning the Company’s current expectations about its future requirements and needs, are “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by words such as “may,” “should,” “expects,” “provides,” “anticipates,” “assumes,” “can,” “will,” “meets,” “could,” “likely,” “intends,” “might,” “predicts,” “seeks,” “would,” “believes,” “estimates,” “plans” or “continues.” These forward-looking statements reflect our current expectations about our future requirements and needs, results, levels of activity, performance, or achievements. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: failure to achieve expected utilization rates, billing rates and the number of revenue-generating professionals; inability to expand or adjust our service offerings in response to market demands; our dependence on renewal of client-based services; dependence on new business and retention of current clients and qualified personnel; failure to maintain third-party provider relationships and strategic alliances; inability to license technology to and from third parties; the impairment of goodwill; various factors related to income and other taxes; risks relating to information security; and a general downturn in market conditions. With respect to our acquisition of Cloud62, additional factors that could cause actual results to differ materially from the forward-looking statements contained herein include, among others: the occurrence of any event, change or other circumstances that could give rise to the termination of the purchase agreement entered into with Cloud62; the ability to satisfy all conditions to completion of the acquisition of Cloud62 and complete the proposed acquisition; our ability to successfully integrate Cloud62 and to achieve expected benefits; failure to retain employees of Cloud62; and the disruption of management's attention from our ongoing business operations due to the acquisition of Cloud62.
These forward-looking statements involve known and unknown risks, uncertainties and other factors, including, among others, those described under “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2014, that may cause actual results, levels of activity, performance or achievements to be materially different from any anticipated results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. We disclaim any obligation to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.