Corporate Executive Board Acquires Germany-Based Baumgartner & Partner Unternehmensberatung GmbH
ARLINGTON, Va., Oct. 3, 2011 /PRNewswire/ --- Corporate Executive Board (CEB) (NYSE: EXBD) today announced that it has acquired Baumgartner & Partner, a Germany- based transformation and optimization consultancy with a rich set of authoritative HR and Finance benchmark data and a strong, professional team. The deal, effective Sept. 30, 2011, includes HR, finance and accounting process benchmarking assets as well as HR transformation advisory services that reinforce CEB's position as a leading provider of global data, insights and best practices.
The Baumgartner & Partner HR capabilities represent a meaningful addition to CEB's ability to help companies achieve the highest levels of corporate performance. Some of Germany's most progressive HR departments already engage with both CEB and Baumgartner & Partner and see clear synergies emerging from the new relationship. Baumgartner & Partner has been at the forefront of process benchmarking in Europe since its inception and has successfully positioned itself as a top consultant for strategic HR transformation and optimization of the HR function.
"Today's announcement demonstrates CEB's commitment to being the most authoritative source of global data and functional expertise for corporate leaders," said CEB Chairman and CEO Tom Monahan. "Baumgartner's impressive IP and highly capable team give us even greater insight into the needs of the corporate core. While the initial financial impact will be modest, we look forward to expanding upon the already strong synergies of our individual client bases to extend CEB's reach in Germany and beyond."
In 2011, CEB placed a strategic focus on strengthening its breadth of data assets, insights and advisory service capacity in Continental Europe. With the acquisition of the Baumgartner & Partner, CEB advances this objective and its penetration of the large enterprise market serving 80 percent of the DAX-30 through the combined enterprise. CEB will collaborate with Baumgartner & Partner leadership including Volker Jacobs, Lothar Sommer and Dr. Armin Deuter, to further expand the company's footprint."By becoming part of CEB, Baumgartner & Partner clients will get access to unparalleled research and business insights as well as proven, practical solutions to challenges from the most successful companies of the world," said Volker Jacobs, partner, Baumgartner & Partner. "With the addition of our leading benchmarking offerings, customer networks and advisory services, together we will be able to support our clients' change processes faster and in a more efficient and focused way." CEB will integrate the Baumgartner & Partner HR offerings into its existing product and service portfolio and will make them available to the market through CEB's Corporate Leadership Council. The community-based benchmarking and transformation advisory services offerings will be available initially in Germany, Austria and Switzerland. CEB will continue to offer Baumgartner & Partner's finance and accounting benchmarking products and will use the insights generated to inform existing CEB offerings, especially those focused on Shared Services. The companies will also identify and capitalize on any natural synergies that exist between the two client bases.
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