Huron Consulting Group, a Chicago-based and publicly traded consulting firm, has acquired Innosight Holdings, a privately held business growth-strategy consultancy in a deal with a potential total value of $135 million.
Seventeen-year-old Innosight, with offices in Boston, Switzerland and Singapore, was founded by strategy consultant Mark Johnson and disruptive innovation guru Clayton Christensen. It has had multiple clients in the healthcare industry, including Aetna, Medtronic and Walgreens, according to a news release.
Innosight created what's described as a “future back” approach to strategy development. It seeks to envision the future and then “create portfolios of new innovations and growth businesses that address changing customer needs and outpace their competitors,” according to a news release.
“Faced with increased competition, often from unconventional sources, organizations are forced to rethink their historical strategies to stay ahead of market forces and changing customer preferences,” said Huron President and CEO James Roth, in a company statement. “Together, we will provide a full spectrum of services—from strategy to execution—that will help organizations think, plan and act differently to confront disruption and accelerate growth.”
Huron has been on a multi-year, shopping spree for smaller, niche consulting businesses.
Christensen said both companies are “passionate about creating repeatable and sustained growth for their clients. Together they are uniquely positioned to build resilience in today's business while at the same time creating future growth engines.”
Terms of the deal include a payment of $90 million in cash and $10 million in Huron common stock, plus a possible $35 million over a four-year period in additional “contingent consideration.”
