CRA International Acquires The Ballentine Barbera Group for $22.7 Million; Acquisition of Highly Respected Firm Expected To Accelerate Growth in CRA's Transfer Pricing Practice.BOSTON -- CRA See Community Reinvestment Act. International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CRAI CRAI Centre De Recherche En Architecture Et Ingénierie (French) CRAI Continuous Regional Arterial Infusion CRAI Consorzio per la Ricerca e le Ipplicazioni di Informatica (Italy) ), a worldwide leader in providing economic, financial, and management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects services, today announced that it has acquired Washington, DC-based The Ballentine Barbera Group, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (BBG BBG Brooklyn Botanic Garden BBG Broadcasting Board of Governors BBG Bloomberg (financial company) BBG Bundesbeamtengesetz (German Law) BBG Bergbau-Berufsgenossenschaft (Germany) ), an independent consulting firm focusing on transfer pricing services. Under the terms of the agreement, CRA purchased substantially all of the assets of BBG for approximately $22.7 million, consisting of $17.7 million in cash and $5.0 million in restricted stock of CRA. Additional purchase consideration may be payable based upon specific performance metrics. CRA anticipates that the acquisition will be accretive in 2006. CRA anticipates retaining the services of substantially all of BBG's employees. "CRA's acquisition of BBG reflects our corporate strategy of adding businesses that complement our core capabilities while further expanding our geographic reach throughout the United States and Europe," said CRA International President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. James C. Burrows. "In addition, it offers an opportunity to expand our market presence in transfer pricing, a rapidly growing area of our litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. practice. With the addition of BBG's 35 billable staff, CRA has significantly strengthened its ability to respond to the demands of the global litigation support marketplace." J. Gregory Ballentine, formerly a principal with BBG, says "CRA's scope, resources and collaborative corporate culture provide a perfect fit for BBG and enable us to offer our unique services to a broader range of clients." Dr. Ballentine will now lead CRA's Transfer Pricing practice. BBG offers a full range of world-class transfer pricing and valuation services. Its primary service areas include Controversy, Documentation, Planning, and Valuation. The firm has been involved in cases with many high-profile companies in the past several years, including DHL DHL abbr. 1. Doctor of Hebrew Letters 2. Doctor of Hebrew Literature , Halliburton, Sears, and Federal Express Corporation. Internationally, BBG has advised on major transfer pricing cases in Canada, France, Germany, Hong Kong, Italy, Japan, the Netherlands, Singapore, and the United Kingdom. In addition to its headquarters in Washington, DC, BBG has offices in Atlanta, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Palo Alto, London, and Melbourne. For the trailing twelve months In commerce, the trailing twelve months (TTM) is a moving measurement (for example, an average or a sum) over the 12 previous months, using the most recent data available. Also sometimes known as last twelve months (LTM). ended April 30, 2006, BBG's revenues were approximately $12.0 million. About CRA Founded in 1965, CRA International is a leading provider of economic and financial expertise and management consulting services. Working with businesses, law firms, accounting firms, and governments, CRA is the preferred consulting firm for complex assignments with pivotal and high-stakes outcomes. The firm is distinguished by a unique combination of credentials: deep vertical experience in a variety of industries; broad horizontal expertise in a range of functional disciplines; and rigorous economic, financial, and market analysis. CRA offers a proven track record of thousands of successful engagements in regulatory and litigation support, business strategy and planning, market and demand forecasting, policy analysis, and engineering and technology management. Headquartered in Boston, the firm has more than a dozen offices within the United States and ten offices in Canada, Europe, the Middle East, and the Asia Pacific region. Detailed information about CRA is available at www.crai.com. Statements in this press release concerning the expected benefits from CRA's acquisition of BBG are "forward-looking" statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially. Such factors that could cause actual results to differ materially from any forward-looking statements made by CRA include, among others, difficulties in integrating BBG's operations, difficulties in integrating BBG's personnel into CRA's existing operations, undisclosed or unanticipated expenses or liabilities associated with the acquisition, the potential loss of clients, the potential loss of key personnel, the difficulty of attracting and retaining qualified consultants, dependence on outside experts, intense competition, and professional liability. Further information on factors that could affect CRA's financial results is included in its most recent Form 10-Q/A filed on April 26, 2006, with the Securities and Exchange Commission. |
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