Korn/Ferry Completes Minnesota AcquisitionWednesday, January 2, 2013
Korn/Ferry International on Wednesday said that it completed its acquisition of Minneapolis staffing firm PDI Ninth House.
PDI brings in $90 million to $100 million in annual fee revenue.
“PDI Ninth House brings to Korn/Ferry strong talent management offerings, rich intellectual property, and world-class people," Chief Executive Gary D. Burnison said in a statement.
When the deal was announced early last month, the Los Angeles global staffing giant said it would pay $80 million in cash, with the potential of adding an additional $15 million in cash if certain targets were met. Wednesday’s announcement did not say whether the additional money was paid.