Korn Ferry said it agreed to buy UK-based AMS in a deal valued at about £850 million, or roughly $1.1 billion, combining a company with more than 16,000 colleagues and a footprint in more than 120 countries with AMS’s 8,000 employees and long-standing international recruiting and workforce operations.
The purchase price is split into about £659 million, or $881 million, in cash and about £191 million, or $255 million, in Korn Ferry stock. Korn Ferry said it expects to fund about $300 million of the cash portion from cash on hand and the remaining roughly $581 million through borrowings on its existing revolver. The company also said it will issue about 3.6 million shares, subject to a 15% collar at closing.
AMS is currently generating about $650 million in annualized fee revenue and about $100 million in adjusted EBITDA. Korn Ferry said it expects that figure to rise to about $140 million within a year after closing, assuming no adverse change in the economic environment. That would represent a $40 million increase, or 40%, from the current run-rate estimate.
The company said AMS brings more than $1.5 billion in estimated fees remaining under existing contracts, adding to revenue visibility. Korn Ferry said the acquisition is expected to close in its second fiscal quarter of 2027, pending regulatory approvals, and to be immediately accretive to earnings per share in the first full year after restructuring, integration and transaction costs.
AMS’s business spans recruitment process outsourcing, early careers and campus recruiting, contingent workforce solutions, consulting and skills creation. Korn Ferry said the combination will expand its reach across search, talent and organizational solutions, and workforce solutions, while AMS adds a large contract base and a stronger presence in Europe and Asia. The market has reacted to these announcements by moving the company's shares 0.3% to a price of $72.41. If you want to know more, read the company's complete 8-K report here.
