MMC.L Regulatory News (MMC)

6 Sep 2007 07:02

Management Consulting Group PLC06 September 2007 Acquisition Management Consulting Group PLC ("MCG" or "the Group"), the international management consultancy group, today announces that it has acquired CBH from its current shareholders, Mr Joe Baird, Mr Kevin Hartwick, Mr Rory Smith and Mr Myron Weber. The transaction closed yesterday, Wednesday, in California after the close of business in London. The total consideration agreed for the acquisition is $10.6m which will be satisfied by the payment of $6.3m (£3.1m) in cash and the issue of 4,156,054 new ordinary shares of 25 pence each in MCG. The business will be known as CBH Consulting. CBH Consulting provides performance management and business intelligencesolutions for enterprises. It assists management to obtain timely, accurate andwell presented information on business performance and the information necessaryto make well informed decisions. It serves the commercial and public sectorswith particular industry expertise in financial services, healthcare and stateand local government. It works closely with and is a preferred partner of, theleading corporate performance planning and business intelligence softwareprovider, Cognos Corporation. Kevin Parry, Chief Executive of MCG, said: "This acquisition broadens our portfolio of consultancies, adding a new fast developing specialisation to our existing service offering. CBH Consulting's strong North American client base further balances the Group's geographic reach and provides a solid platform for further growth." Joe Baird, Chief Executive of CBH Consulting, said: "We look forward to working with MCG to grow and develop the business in the North America and other key global markets. Joining MCG allows us to broaden our deep content expertise and work with new colleagues in other parts of the Group." Les Rechan, Chief Operating Officer of Cognos said: "We see this as an excellent opportunity for one of our premiere partners to not only bring forth unparalleled value to Cognos customers, but to allow CBH to grow its existing performance management expertise into a global industry solutions portfolio. "We are very excited to continue to work with CBH and its new parent company MCG on future efforts to enable our customers to achieve the highest of levels performance." Further Information: Management Consulting Group PLCKevin Parry, Chief Executive +44 20 7710 5000Chris Povey, Director of M&A +44 20 7710 5000Luke Williams, COO, Enterprises +44 20 7710 5000 MaitlandSuzanne Bartch +44 20 7379 5151Peter Ogden +44 20 7379 5151 About MCG: Management Consulting Group PLC (MMC:L) is a group comprising a range of consulting and professional services offerings. It now operates through six divisions: CBH Consulting, Ineum Consulting, Parson Consulting, Proudfoot Consulting, Salzer Consulting and Viaduct Consulting. Ineum Consulting provides services with industry expertise. Parson Consulting specialises in financial management consulting. Proudfoot Consulting specialises in operational improvement consulting. Salzer Consulting specialises starting, managing and restructuring businesses in Asian markets and Viaduct Consulting specialises in commercial due diligence. The businesses operate worldwide. For further information visit www.mcgplc.com About CBH Consulting: CBH Consulting designs effective performance management solutions to assistenterprise to access timely, accurate, well communicated information on businessperformance. Its solutions embrace enterprise wide planning (budgeting andforecasting), business intelligence (information to aid decision making) andscorecarding for a complete performance management solution offering. Theservices are provided to all industries with particular vertical expertise infinancial services, healthcare and state and local government. The vast majorityof its solutions leverage Cognos software products to optimise results. CBH Consulting is a preferred partner of the leading corporate performanceplanning and business intelligence software provider, Cognos. It has for thelast five years been a strategic platinum reseller of their products; in 2007 itreceived its second North American reseller partner of the year award; and wasthe Solution Provider of the year. The business is headquartered in Irvine, California with regional offices in SanRamon, California, Seattle, Washington, and Dallas, Texas. Its clients haveincluded over 200 mid size and Fortune 1000 companies. These clients includeExperian, The Nebraska Medical Centre, The City and County of San Francisco andKaiser Permanente. For further information visit www.cbhinc.com This information is provided by RNS The company news service from the London Stock Exchange