Korn Ferry Enters US$1.1bn Deal to Acquire AMS

Global organisational consulting firm Korn Ferry has announced that it has entered into an agreement to acquire talent acquisition and HR consulting firm AMS. 

AMS currently serves many of the world’s leading organisations across financial services, technology, healthcare, life sciences, consumer, industrial and public sector markets. 

Its operations span more than 120 countries, including a well-established presence throughout Europe and Asia.

Through the acquisition, Korn Ferry will be bringing together what it describes as “two highly complementary organisations” that have a shared commitment to drive business performance. 

“By bringing AMS into the Korn Ferry family, we are expanding our ability to help clients solve their most critical organisational challenges,” says Gary Burnison, CEO of Korn Ferry. “Despite all of the technological innovations of yesterday, today and tomorrow, the real driver of organisational success is people. And with our AMS colleagues we will be stronger together than apart. 

“Over almost 20 years I have watched AMS grow and evolve, with deep admiration and respect. I am convinced that the culture and values of both companies are completely aligned. And it all starts with people. This is indeed a significant milestone for Korn Ferry and I am excited about the future that we will shape together.”

Terms of the deal

Under the terms of the acquisition agreement, Korn Ferry has agreed to acquire AMS for an aggregate purchase price of approximately US$1.1bn – consisting of US$881m (roughly £659m) in cash and US$255m in Korn Ferry common stock. 

The cash portion, Korn Ferry says, will be funded with approximately US$300m of cash on hand, and US$581m of cash consideration with borrowings, under the company’s existing revolver. 

Subject to regulatory clearances, the transaction is expected to close in Korn Ferry’s second fiscal quarter in fiscal year 2027 – which runs from 1 August 2026 to 31 October 2026,

Long-term contracts from AMS are expected to add more than US$1.5bn estimated fees remaining under existing contracts, which could provide greater revenue visibility for the newly combined organisation. 

Why is Korn Ferry acquiring AMS?

This transaction is set to combine Korn Ferry’s work across search, talent and organisational solutions and workforce solutions with AMS’s expertise in Recruitment Process Outsourcing (RPO), early careers and campus recruiting, consulting and skills creation. 

“At AMS we connect organisations with the people who advance their vision and deliver their purpose – powering industries, achieving results and shaping futures,” says Rosaleen Blair, Founder and Chair of AMS. “In Korn Ferry we have a like-minded partner that shares the same beliefs and embraces the same values.”

Gordon Stuart, CEO of AMS, agrees. 

“Combining AMS with Korn Ferry will create new opportunities for our clients, our teams and accelerate our ability to shape the future of work,” he says. 

By taking advantage of the combined expertise and relationships of Korn Ferry and AMS, Korn Ferry says the combination will create more sustainable opportunities at scale.