Korn/Ferry International said Wednesday that it has agreed to buy Lore International Institute, which provides leadership development, executive education and coaching services.

Lore, based in Durango, Colo. does 40 percent of its work outside the United States. It will become a Korn/Ferry subsidiary and join the Los Angeles staff recruitment company's leadership and talent consulting division.

Financial terms were not disclosed. Korn/Ferry said the all-stock deal is expected to close in the next 30 days and will add to earnings in the following 12 to 18 months.

Shares of Korn/Ferry were down 46 cents, or 3.5 percent, to $12.70 in morning trading on the New York Stock Exchange.

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