FTI Consulting, Inc. (FCN - Free Report) , a global business advisory firm, recently announced the acquisition of The Salter Group, LLC - a leading provider of business and intangible asset valuations - for an undisclosed amount.
FTI Consulting primarily caters to the needs of its global clients by providing financial advisory services. The company’s strategy to expand through acquisitions, particularly in the international markets, remains one of its key growth drivers. The demand for the company’s specialized consulting services is expected to grow significantly over the long term.
On the other hand, since its inception in 2003, The Salter Group had handled more than 1,350 projects worth around $145 billion. The addition of The Salter Group will strengthen FTI Consulting’s industry expertise in entertainment, media and life sciences. Furthermore, as the continued challenging macroeconomic environment entail levels of credible objectivity to assess investments and lending risks, the acquisition is likely to be synergistic in the long run. The transaction, therefore, is a win-win situation for both the companies.
In the last reported quarter, FTI Consulting reported adjusted earnings of 60 cents per share, which beat the Zacks Consensus Estimate by a penny but fell well short of the year-ago earnings of 70 cents a share.
Based in Baltimore, Maryland, FTI Consulting provides specialized consulting services across 24 foreign countries with a total headcount of more than 3,800 employees. The company has a team of highly qualified professionals who provide problem-solving and technology services primarily to major corporations, financial institutions and law firms.
FTI Consulting currently has a Zacks Rank #3 (Hold) and a long-term Neutral recommendation. One of its competitors, Navigant Consulting Inc (NCI - Free Report) carries a Zacks Rank #2 (Buy).