Risk management and cybersecurity solutions firm Kroll has been acquired by global advisory firm Duff & Phelps, the companies announced March 13, with Duff & Phelps picking up Kroll from diversified risk and information services firm Corporate Risk Holdings. Terms of the deal were not disclosed.
First established in 1972, Kroll specializes in helping its clients mitigate risks relating to fraud and security threats, and manage compliance. The deal will allow Duff & Phelps to expand its global scale, specifically in Europe and Latin America, with the combined company featuring nearly 3,500 employees in 28 countries.
“Both companies have a rich and time-tested history of helping clients manage risk and make confident choices. Our respective clients will benefit from the combined organization’s expanded geographic footprint and broadened service offerings,” said Kroll CEO David Fontaine.
Fontaine added: “As a result of this union, the committed professionals that make Kroll such a special place to work will have new and exciting opportunities for growth. After spending time with Noah and his leadership team, it is evident to me that there is strong alignment in our respective organizations’ values and cultures. My colleagues and I look forward to this next exciting chapter.”
Noah Gottdiener, Duff & Phelps CEO, added: “Bringing together these two world-class organizations will significantly expand our global scale, broaden our client offerings and create great opportunities for our colleagues. Both firms share a common culture and heritage of putting clients first, and the combination will only strengthen this commitment. I welcome our new colleagues to Duff & Phelps and look forward to joining forces to build one great team.”
The deal is expected to close during the second quarter.