ARLINGTON, Va., July 28, 2015 /PRNewswire/ -- CEB, (NYSE: CEB), a best practice insight and technology company, today announced that it has acquired Australia-based CEO Forum Group for $13 million AUD. The company is the leading provider of membership–based peer group briefing services serving senior executives of foreign-owned multinational organizations doing business in Australia. CEO Forum Group services extend CEB's Leadership Council model, which enables members to apply insights from the best companies to save time and improve business outcomes. The acquisition firmly cements CEB as an unmatched source of peer insights and best practices in the region.
With more than 400 organizations on its roster, CEO Forum Group has become the largest briefing service network for foreign MNC business leaders since its founding in 1990. Today, the company—which boasts the largest executive network for these MNCs—supports key country leaders, including divisional CEOs, HR and Finance Directors. The CEO Forum Group reported revenues of $8M AUD for the fiscal year-end June 30, 2015.
"This acquisition is the result of a long and fruitful collaboration between CEB and CEO Forum," said Jesse Levin, head of Corporate Strategy & Development at CEB. "Our shared commitment to delivering the insights and perspectives senior leaders need to drive corporate performance made the decision a logical next step as we expand our brand and operating presence in Australia. With the addition of CEO Forum, we are deepening the resources we bring to our current members globally and extending our reach in an important geography with a combined member list of 1200 of the top companies in ANZ."
CEB will continue to offer CEO Forum's core briefing services and network (International CEO Forum, International CFO Forum and International HR Director Forum) to its members. They will also continue to convene annual conferences like the annual Foreign Investor Dialogue, an exclusive gathering of Australia's political leadership and leaders of its foreign investment community, to share perspectives on macro-economic forecasts and pending policy decisions. The company's founders, Chris Cheatley and James O'Toole, will guide the company through the transition period and ensure that the management team is positioned for long-term success.
"James and I have great respect for the suite of very strong programs, products and services that CEB has developed to serve global companies and for the equally strong underlying value set of the organization," said CEO Forum Co-Founder, Chris Cheatley. "We are excited to see how they expand the strong foundation of knowledge and insight we've built across ANZ and are confident that under their leadership our combined resources will deliver an enhanced and sharply relevant set of briefing services and networks for every CEO, CFO and HR Director in Australian subsidiaries of global companies."
CEB is a best practice insight and technology company. In partnership with leading organizations around the globe, we develop innovative solutions to drive corporate performance. CEB equips leaders at more than 10,000 companies with the intelligence to effectively manage talent, customers, and operations. CEB is a trusted partner to 90% of the Fortune 500, nearly 75% of the Dow Jones Asian Titans, and more than 85% of the FTSE 100. More at cebglobal.com.