FTI Consulting to Acquire Assets of Delta Partners
FTI Consulting to Acquire Assets of Delta Partners
Addition of Leading TMT-focused Professionals Enhances Deep Industry Expertise
WASHINGTON, May 18, 2020 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced that it has entered into a definitive agreement to acquire certain assets of Delta Partners, a leading telecom, media & technology (“TMT”) focused strategy consulting and investment banking firm with offices in Dubai, New York, Singapore, Barcelona, Johannesburg, San Francisco and Sydney. Founded in 2006, Delta Partners collaborates with global and regional TMT players to help them address their most challenging issues through multi-disciplinary services that combine strategic, technical, financial, analytical and operational advice with execution. The acquisition is expected to close during the third quarter of 2020, subject to customary closing conditions. Terms of the transaction were not disclosed.
“We are delighted to welcome this group of outstanding professionals to our already strong TMT practice,” said Steven H. Gunby, President and Chief Executive Officer of FTI Consulting. “Over time our teams have had the pleasure of collaborating with Delta Partners professionals, and we have seen the expertise, value and integrity they bring to their clients. Together, we look forward to continuing to deliver for the world’s leading TMT companies as they address their most significant challenges and opportunities.”
With the addition of approximately 150 billable professionals, including 21 senior managing directors, Delta Partners’ deep TMT industry expertise will extend FTI Consulting’s business transformation and transactions and FTI Capital Advisors offerings to a truly global presence.
“The addition of the Delta Partners team strengthens our strategy consulting offering and significantly bolsters our business transformation and transactions capabilities, enabling us to establish FTI Consulting as a truly global TMT advisory firm,” said Carlyn Taylor, Global Co-Leader of the Corporate Finance & Restructuring segment at FTI Consulting and the founder of the firm’s TMT industry practice. “Today, our TMT industry practice serves the largest corporations and private equity firms in the U.S. and Europe. Delta Partners brings a wealth of new corporate clients to FTI Consulting, and together our practices will achieve a formidable scale to serve any TMT client in the world with exceptional industry expertise and a wide range of services.”
Victor Font, Delta Partners’ Chief Executive Officer, will join FTI Consulting as a Senior Managing Director and will serve as Co-Leader of the Corporate Finance & Restructuring segment’s TMT industry practice alongside Luke Schaeffer. Mr. Font has more than 20 years of experience in the TMT space, advising industry leaders globally. Throughout his career, Mr. Font has led numerous strategic, operational and transformational projects. Before co-founding Delta Partners, Mr. Font was a Partner at Oliver Wyman (then DiamondCluster) in São Paulo, Barcelona and Dubai and served as a member of the firm’s Management Committee for Europe, Latin America and the Middle East.
“TMT operators are facing an environment that requires creative problem-solving and a very multi-disciplinary skill set to remain competitive. The depth of talent, breadth of expertise and complementary service offering at FTI Consulting will enable us to better serve our global clientele,” Mr. Font said. “We are proud of what we have built and accomplished at Delta Partners, and we look forward to continuing our growth trajectory as part of FTI Consulting. All our professionals are excited to shape the next phase of our journey together and build the leading TMT global advisory services firm.”
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 5,500 employees located in 27 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $2.35 billion in revenues during fiscal year 2019.
About Delta Partners
Delta Partners is the leading advisory firm specialized in the TMT industry with offices in the United States, Europe, the Middle East, Africa, Asia and Australia. The firm’s multi-disciplinary advisory services bring together strategic, technical, financial and operational advice for global and regional telecom providers, tech players and other TMT clients to help them address their most challenging strategic issues. With more than 200 professionals, the group operates globally and covers the emerging and high-growth economies with a unique approach that combines strategic perspectives with a hands-on pragmatic approach.
Safe Harbor Statement
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve uncertainties and risks. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues, future results and performance, expenses, expectations, plans or intentions relating to acquisitions, dispositions, financing transactions, share repurchases and other matters, business trends and other information that is not historical, including statements regarding estimates of our future financial results. When used in this press release, words such as “will,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “forecasts” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, expectations regarding the acquisition of Delta Partners, are based upon our expectations at the time we make them and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs and estimates will be achieved, or the acquisition of Delta Partners will be consummated and actual results may differ materially from our expectations, beliefs and estimates. Other factors that may affect the Company’s expectations include the timing of the consummation and integration of Delta Partners and future acquisitions; the Company’s ability to realize cost savings and efficiencies, competitive and general economic conditions; retention of staff and clients; new laws and regulations or changes thereto; the mix of services and products that we offer; the mix of the geographic locations where our clients are located or where services are performed; fluctuations in the price per share of our common stock; adverse financial, real estate or other market and general economic conditions; the impact of the COVID-19 pandemic and related events that are beyond our control, which could affect our segments, practices and the geographic regions in which we conduct business differently and adversely; and other future events, which could impact each of our segments, practices and the geographic regions in which we conduct business differently and could be outside of our control; and other risks described under the heading “Item 1A, Risk Factors” in the Company’s quarterly report on Form 10-Q for the quarter ended March 31, 2020 and annual report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission (the “SEC”), including the risks set forth under “Risks Related to Our Reportable Segments” and “Risks Related to Our Operations,” and in the Company’s other filings with the SEC. We are under no duty to update any of the forward-looking statements to conform such statements to actual results or events and do not intend to do so.
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Source: FTI Consulting, Inc.
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