Acquisition Expands The Hackett Group’s Oracle Cloud Applications Offerings To ERP and Strongly Complements Existing Market Leading EPM Capabilities
MIAMI & LONDON, May 9, 2017 – The Hackett Group, Inc. (NASDAQ: HCKT) today announced that it has completed its acquisition of Jibe Consulting, Inc. a leading management and technology consulting firm focused on implementing Oracle Enterprise Resource Planning (ERP) and Human Capital Management (HCM) solutions. The combined enterprise is expected to enhance The Hackett Group’s ability to fully support clients’ Oracle Cloud Business Application implementation efforts in finance, procurement, manufacturing, supply chain and human capital.
Formed in 2004, Jibe has grown into a comprehensive team of consultants that provide unique insights around leading practices for streamlining business operations. Jibe Consulting has more than 90 consultants and is an Oracle Platinum Partner.
The acquisition builds on the best practices implementation IP of The Hackett Group, including its ERP, Enterprise Performance Management and Analytics (EEA) practice. The Hackett Group’s intellectual property and extensive research in business processes, combined with its experience in implementing Oracle enterprise applications in the cloud highly differentiates its offerings.
According to The Hackett Group’s Oracle Technology Leader Scott McHale “With Jibe, we believe that we now have the complete capability and scale to address the rapidly growing Oracle cloud applications market. We expect to use this capability to grow our business in this rapidly emerging market opportunity as our clients and prospective clients embrace Oracle’s cloud platform in a meaningful way. This acquisition puts us firmly on the map as a leading partner committed to Oracle’s cloud platform.”
Shane Moncrieff, Jibe Consulting President, explained that “The culture and mission of The Hackett Group are perfectly aligned with Jibe. Both of our companies are intensely focused on helping our clients achieve peak performance. Bringing together The Hackett Group’s benchmarking capability and best practice insights with Jibe’s acumen for implementing the Oracle Cloud Business Applications will provide clients with tremendous opportunities to streamline their processes and adopt practices that will have a measurable impact on their business. We are excited to enhance the Cloud ERP and HCM capability of The Hackett Group’s EEA practice.”
According to Jason Balogh, The Hackett Group EEA Practice Leader, “This acquisition is an extension of our ongoing strategy to embed The Hackett Group’s intellectual property via digital delivery vehicles, enabling clients to improve efficiency and effectiveness with empirically-proven best practices, configurations and on-line advisor support for their cloud application designs and implementation. With Jibe, we believe that our combined practice capability will escalate and expand the development of The Hackett Group’s platforms and help clients set performance targets with best practices, then configure Oracle solutions to realize them. This capability is unmatched in the market and will enable clients to implement improvements that drive value much more quickly.”
About The Hackett Group, Inc.
The Hackett Group (NASDAQ: HCKT) is an intellectual property-based strategic consultancy and leading enterprise benchmarking and best practices digital transformation firm to global companies, offering digital transformation including robotic process automation and enterprise cloud application implementation. Services include business transformation, enterprise analytics, working capital management and global business services. The Hackett Group also provides dedicated expertise in business strategy, operations, finance, human capital management, strategic sourcing, procurement and information technology, including its award-winning Oracle and SAP practices.
The Hackett Group has completed more than 17,850 benchmarking studies studies with major corporations and government agencies, including 93% of the Dow Jones Industrials, 90% of the Fortune 100, 80% of the DAX 30 and 57% of the FTSE 100. These studies drive its Best Practice Intelligence Center™ which includes the firm’s benchmarking metrics, best practices repository and best practice configuration guides and process flows, which enable The Hackett Group’s clients and partners to achieve world-class performance.
About Jibe Consulting
Jibe Consulting is a management and technology consulting firm headquartered in Bellevue, Washington that implements and supports Oracle solutions. Spanning nationwide, we provide service for clients on a global scale, across a multitude of industries. Each of Jibe’s consulting practices are organized to provide excellent value to our clients. We deploy a proven methodology to deliver solutions effectively and efficiently.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause The Hackett Group’s actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that impact such forward-looking statements include, among others, the ability of our products, services, or offerings mentioned in this release, including the Jibe Consulting products, services and offerings, to deliver the desired effect, our ability to effectively integrate the Jibe Consulting acquisition into our operations, and the ability of The Hackett Group to market the integrated services pertaining to Jibe Consulting’s Oracle cloud ERP implementation and more generalized consulting services against competition from other consulting and professional/trade associations/companies who may have or develop in the future, similar offerings, the commercial viability of such service offerings and changes in expectations regarding Oracle cloud ERP implementation and generalized consulting services, our ability to retain existing business including Jibe clients, our ability to attract additional business including to the Jibe Consulting solution, our ability to effectively market and sell our product offerings and other services including services provided by Jibe Consulting, the timing of projects and the potential for contract cancellations by our customers including Jibe consulting customers, changes in expectations regarding the business consulting and information technology industries, our ability to attract and retain skilled employees, possible changes in collections of accounts receivable due to the bankruptcy or financial difficulties of our customers, risks of competition, price and margin trends, foreign currency fluctuations, changes in general economic conditions and interest rates, our ability to obtain debt financing through additional borrowings under an amendment to our existing credit facility as well as other risks detailed in our Company’s Annual Report on Form 10-K for the most recent fiscal year filed with the Securities and Exchange Commission. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.