Navigant Consulting is selling for $1.1 billion, and the buyer is Guidehouse a private equity consultancy company. The New York company is based in Veritas Capital.
The company board deciding that it will be of best interest to the company shareholders; where it would guarantee a fast term high value with an attractive premium. According to CEO Julie Howard, this sellout will create a more powerful consulting agency; that is backing it up with the best experts in the industry.
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This sellout will give each shareholder a $28 a share in cash; which was better than the last closing price with a 16% increase. The former CEO Howard; was offered a seat on the board of Guidehous company. The company plans on keeping everyone with the same roles in the company departments for Navigant.
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The new company headquarters would be in D.C. as well as keeping a presence in Chicago. With more than 6,000 employees only 500 are located in the Chicago office. The new Navigant Guidehouse merge will result in $1.3 billion in revenue; which will be put to use back in the company; to put a priority on the digital strategy and get involvement larger variety of industries.
Guidehouse focuses on government clients like departments of Defense, Homeland Security, and Veterans Affairs as clients. Meanwhile, Navigant consulting main focus is the private sector; and the main reason they merged is due to Navigant not making the progress they were hoping to achieve although they were making a significant one. As far as what brand name that decision will be in the following weeks.