Duff & Phelps, which advises travel firms on merger and acquisitions, has announced the acquisition of security and cyber solutions specialist Kroll.
The firm said it has signed a definitive agreement to acquire Kroll but the terms of the deal were not disclosed.
Kroll helps clients manage compliance, navigate litigation and mitigate risk relating to fraud, impropriety and security threats.
Duff & Phelps said the transaction “dramatically enhances the combined firm’s broad suite of services in the areas of valuation, corporate finance, compliance, investigations, security and cyber solutions”.
The Kroll acquisition also significantly expands Duff & Phelps’ global scale, particularly in Europe and Latin America.
The combined organization will have nearly 3,500 employees based in 28 countries around the world.
Noah Gottdiener, chief executive of Duff & Phelps, said: “Bringing together these two world-class organisations will significantly expand our global scale, broaden our client offerings and create great opportunities for our colleagues.
“Both firms share a common culture and heritage of putting clients first, and the combination will only strengthen this commitment. I welcome our new colleagues to Duff & Phelps and look forward to joining forces to build one great team.”
David Fontaine, Kroll chief executive, added, “Duff & Phelps and Kroll nicely complement one another. Both companies have a rich and time-tested history of helping clients manage risk and make confident choices.
“Our respective clients will benefit from the combined organization’s expanded geographic footprint and broadened service offerings.
“As a result of this union, the committed professionals that make Kroll such a special place to work will have new and exciting opportunities for growth.
“After spending time with Noah and his leadership team, it is evident to me that there is strong alignment in our respective organizations’ values and cultures. My colleagues and I look forward to this next exciting chapter.”
The transaction is expected to close during the second quarter of 2018, subject to regulatory approval.
UBS Investment Bank and Goldman Sachs acted as financial advisors to Duff & Phelps.
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