Resources Connection Bolsters Financial Services Expertise With Strategic Acquisition Of Reference Point
Portfolio Pulse from Shivani Kumaresan
Resources Connection Inc (NASDAQ:RGP) is set to acquire Reference Point LLC, a consulting firm specializing in the financial services sector. The acquisition aims to enhance RGP's portfolio of advisory services for financial services clients and stimulate growth in its consulting business. The deal, expected to close by early summer 2024, will see Reference Point's current management team continue to lead. RGP reported $95.7 million in cash and equivalents as of November 25, 2023, and its shares have risen by 0.96% to $13.19.
March 28, 2024 | 4:02 pm
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Resources Connection Inc's acquisition of Reference Point LLC is expected to enhance its financial services consulting offerings and stimulate growth in its consulting business.
The acquisition of Reference Point by RGP is a strategic move to expand its advisory services in the financial services sector, which is a significant area of management consulting spend in the U.S. This expansion is likely to be viewed positively by investors, as it positions RGP for further growth in a key market. The immediate positive reaction in stock price (up 0.96%) post-announcement indicates market optimism about the acquisition's potential to enhance RGP's business.
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IMPORTANCE 90
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