Global management and financial services company CRA International, Inc. announced that it has bought substantially all the assets of strategy consulting firm Marakon Associates, including intellectual property, accounts receivables and all current client projects. Other than enhancing CRA's consulting services, the acquisition will also create a new Value Management Practice for CRA. Financial terms of the deal were not disclosed.
Marakon Associates, well known for pioneering value-based management, will be led by Mason Kissell, who most recently served as the firm's CEO, and be based in CRA's New York City office. CRA will retain about 50 Marakon consultants, nine of who will become CRA vice presidents. The staff will work at CRA's offices in London, New York and Chicago.
Mason Kissell commented on the acquisition, "CRA is a well-established, leading consulting organization that shares our commitment to delivering high value to clients through analytically rigorous work, teamwork and collaboration. Through this transaction, we gain additional functional depth and breadth, access to leading industry expertise, and strong analytical capabilities to help us grow the business. We are excited to join CRA."
James C. Burrows, CRA's President and CEO, reciprocated the sentiment, "We are very pleased to welcome the Marakon team to CRA. Marakon is an outstanding fit with CRA for a number of reasons—the firm is well-known for its quantitative, economics–driven approach to consulting; it maintains the highest quality standards; it brings complementary client relationships in markets where we are well-established; it strengthens our client offerings in key markets like financial services, banking and retail; and it enhances our presence in Europe. The combination of our teams provides greater depth in offering the highest quality business consulting services to our clients."