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Huron (HURN) to Buy Salesforce Industries Partner ForceIQ

Zacks.com logo Zacks.com 10/16/2020

Huron Consulting Group Inc. HURN yesterday announced that it will acquire leading Salesforce Industries partner ForceIQ. The financial terms have been kept under wraps.

ForceIQ founders, Daniel Townsend, Jonathan Williams and Deepak Bandi, and 65 global employees will join Huron through the acquisition which is expected to be completed in November. ForceIQ will be a part of Huron’s Business Advisory operating segment.

Founded in 2018, ForceIQ helps companies design, develop and market Salesforce-powered products and services. It provides digital innovation for patients and providers using Salesforce and Vlocity technologies.

How Will Huron Benefit?

Huron and ForceIQ have complementary industry, functional and technical expertise. ForceIQ’s addition will expand Huron’s industry-specific cloud software capabilities and enable it to enhance its client organization’s digital customer experiences.

"This acquisition accelerates Huron’s commitment to helping our clients better compete in disruptive and highly competitive markets," said James H. Roth, chief executive officer of Huron.

Notably, shares of Huron declined 27.1% over the past year against 18.3% rally of the industry it belongs to and 16.4% growth of the Zacks S&P 500 composite.

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Zacks Rank & Stocks to Consider

Huron currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Business Services sector are Republic Services RSG, S&P Global SPGI and TransUnion TRU, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The long-term expected earnings per share (three to five years) growth rate for Republic Services, S&P Global and TransUnion is 7.9%, 10% and 14%, respectively.

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