September 13, 2012 – Korn/Ferry International has acquired Boston-based Global Novations, LLC, a global provider of diversity, inclusion and leadership development solutions. Financial terms of the deal were not disclosed. Global Novations has more than 30 years of experience and has served clients in more than 40 countries, including more than half of the Fortune 100 organizations. The acquisition increases the scale of Korn/Ferry's Leadership and Talent Consulting business and extends the firm's capabilities within the market for diversity and inclusion-focused talent management solutions — at a time when fees from its traditional headhunting business is under pressure. "Cultural dexterity is one of the most important leadership characteristics in global executives," said Gary D. Burnison, Korn/Ferry CEO. "Today, multinational organizations put a high premium on diverse leaders who can motivate and move workforces across artificial lines on maps called borders. With the world growing flatter, and smaller, and more diverse, Global Novations understands how valuable cultural dexterity has become with clients today." The acquisition is expected to be accretive to earnings in the first year of Korn/Ferry ownership. Korn/Ferry International, based in Los Angeles and with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa, is a global provider of talent management solutions.
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