Press Release

Acquisition strengthens Huron’s supply chain consulting and Oracle supply chain management (SCM) offerings and broadens Microsoft capabilities

CHICAGO--(BUSINESS WIRE)--Dec. 3, 2024-- Huron (NASDAQ: HURN), a global professional services firm, today announced it has acquired AXIA Consulting (AXIA), a leading provider of supply chain-focused consulting and technology solutions. This acquisition enhances Huron’s supply chain offerings, particularly in the industrials and manufacturing, retail and healthcare sectors. It also expands Huron’s Oracle supply chain management (SCM) offerings and broadens its technology portfolio with advanced Microsoft capabilities, strengthening Huron’s ability to empower clients to align their people and processes to support their digital-first goals. Together, Huron and AXIA will help clients build agile, responsive, and efficient operations that meet the demands of our connected world.

“We are thrilled to welcome the entire AXIA team to Huron,” said Mark Hussey, chief executive officer and president at Huron. “This acquisition enables us to help our clients build more resilient supply chains and operations as they seek to strengthen their competitive advantage and drive profitable growth.”

This acquisition deepens and extends Huron’s market-leading capabilities, bringing together AXIA’s strengths in supply chain process optimization, people transformation, and digital leadership to deliver impactful solutions at every step of a client’s business transformation. With the integration of AXIA’s expertise, Huron is well-positioned to deliver innovative, data-driven strategies and supply chain solutions that empower clients to navigate today’s complex market landscape.

“We are excited about what this acquisition means for AXIA,” said Ed Mueller, Chairman and former CEO of AXIA. “This acquisition enhances our ability to deliver superior supply chain solutions and provides our team with additional growth opportunities. Together, we are committed to delivering exceptional value and advancing our clients’ strategic goals and objectives.”

“Joining Huron is an exciting opportunity for us to continue building on our long and successful track record of delivering great value for our clients,” said Justin Browder, CEO of AXIA. “Our values and commitment to our people, client success and innovation align perfectly with Huron and will allow us to maintain our strong culture. We look forward to leveraging our combined expertise across industries and technologies to deliver exceptional solutions and drive even more transformative results for our clients.”

AXIA has a proven track record of helping manufacturing, retail and distribution organizations as well as healthcare, education, financial services and utilities organizations solve complex challenges by transforming organizations, optimizing processes, and modernizing technology to drive results and deliver real impact.

All members of the AXIA team will join Huron, including approximately 130 client-facing employees. Both Huron and AXIA are values-led, people-focused organizations dedicated to delivering client success through deep collaboration and integrity.

It is expected that the significant majority of AXIA’s revenue will be included in the Commercial Segment. Terms of the acquisition were not disclosed. Clearsight Advisors served as exclusive financial advisor to AXIA.

ABOUT HURON

Huron is a global professional services firm that collaborates with clients to put possible into practice by creating sound strategies, optimizing operations, accelerating digital transformation, and empowering businesses and their people to own their future. By embracing diverse perspectives, encouraging new ideas and challenging the status quo, we create sustainable results for the organizations we serve. Learn more at www.huronconsultinggroup.com.

Statements in this press release that are not historical in nature, including those concerning the company’s current expectations about its future results, are “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by words such as “may,” “should,” “expects,” “provides,” “anticipates,” “assumes,” “can,” “will,” “meets,” “could,” “likely,” “intends,” “might,” “predicts,” “seeks,” “would,” “believes,” “estimates,” “plans,” “continues,” “goals,” “guidance,” or “outlook” or similar expressions. These forward-looking statements reflect the company's current expectations about future requirements and needs, results, levels of activity, performance, or achievements. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: failure to achieve expected utilization rates, billing rates, and the necessary number of revenue-generating professionals; inability to expand or adjust our service offerings in response to market demands; our dependence on renewal of client-based services; dependence on new business and retention of current clients and qualified personnel; failure to maintain third-party provider relationships and strategic alliances; inability to license technology to and from third parties; the impairment of goodwill; various factors related to income and other taxes; difficulties in successfully integrating the businesses we acquire and achieving expected benefits from such acquisitions; risks relating to privacy, information security, and related laws and standards; and a general downturn in market conditions. These forward-looking statements involve known and unknown risks, uncertainties, and other factors, including, among others, those described under “Item 1A. Risk Factors” in Huron's Annual Report on Form 10-K for the year ended December 31, 2023 that may cause actual results, levels of activity, performance or achievements to be materially different from any anticipated results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. The company disclaims any obligation to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241203509153/en/

MEDIA CONTACT
Allie Bovis
abovis@hcg.com

INVESTOR CONTACT
John D. Kelly
investor@hcg.com

Source: Huron