FTI Consulting Acquires Thompson Market Services, Ltd.
-Significantly Expands Chinese Market Presence- -Greatly Expands Chinese Intellectual Property and Brand Protection Practice-HONG KONG, Feb 19, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today announced the acquisition of Thompson Market Services Limited ("TMS"), a full range intellectual property and brand protection service firm. Terms of the transaction were not disclosed.
TMS is headquartered in Hong Kong with a Shanghai-based Wholly Owned Foreign Enterprise subsidiary, Thompson Market Services (Shanghai) Ltd. Through its main operational office in Shanghai and branch office in Guangzhou, the company maintains a full-time operational coverage in some twenty cities across China, and serves an impressive list of multinational clients throughout Greater China. TMS provides comprehensive intellectual property and brand protection solutions, including manufacturing and market assessment studies; consulting for the design, development and execution of long-term brand protection programs; and liaising with various Chinese government and law enforcement agencies in order to achieve high-frequency, high-impact raids and seizures of counterfeit goods. TMS also conducts investigations to collect evidence regarding the activities of the increasingly sophisticated networks of counterfeit manufacturers, exporters, distributors and cyber-traders that are driving the rapidly expanding global trade in fake goods. TMS will be integrated into FTI's existing Asian subsidiary, International Risk Limited, led by Steve Vickers.
Commenting on the acquisition, Jack Dunn, FTI's President and CEO, said, "We enter 2008 with strong momentum in the marketplace as we continue to grow our business through both internal and external means. This transaction fits in perfectly with our overall strategic acquisition program. In acquiring TMS, we add a leader in the Chinese marketplace that greatly enhances FTI's existing coverage in Asia and significantly expands our operational capacity to serve clients facing major threats to their intellectual property or to their overall brand in China. Patents, copyrights, trademarks and other intellectual property are among the major assets of the world's leading corporations. The increasing sophistication of criminal networks requires an incrementally refined response. The combination of FTI's specialist resources and TMS' practical operational experience further differentiates us from our competitors in the complex Greater China market."
Steve Vickers who heads the Asian FTI subsidiary, International Risk Limited, said, "We are very excited at the opportunity this acquisition affords us. The marriage of TMS' professional expertise and operations on the ground with FTI's established consulting services, computer forensic capability and financial investigative depth - coupled with our shared values, represents a powerful engine for the provision of market leading brand protection solutions to clients. We look forward to working together to offer strategic solutions to critical intellectual property and brand issues for the world's largest corporations."
Bill Thompson at TMS offices in Shanghai said, "We are delighted to be joining FTI's rapidly expanding business and to be working more closely in the future with our new colleagues at FTI all over the world. The synergies arising from our acquisition by the premier provider of risk mitigation services will greatly benefit our clients and will certainly further motivate our dedicated professional staff."
TMS was founded by Bill Thompson in 2004. Bill and his team have 19 years experience in Taiwan, Hong Kong, Japan, Korea and China. TMS' Asian intellectual property and brand protection experience includes services to many multinational brand owners, and has resulted in successful enforcement actions, criminal prosecutions and sustained programs to combat the impact of infringers. Bill and the rest of the senior management team at TMS will continue in their roles as part of FTI Consulting, and have signed 4-year employment agreements.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 2,400 professionals located in most major business centers in the world, we work closely with clients every day to anticipate, illuminate, and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management and restructuring. More information can be found at www.fticonsulting.com.
Safe Harbor Statement
This press release includes "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 that involve uncertainties and risks including statements related our future financial results. There can be no assurance that actual results will not differ from the company's expectations. The Company has experienced fluctuating revenue, operating income and cash flow in some prior periods and expects this will occur from time to time in the future. As a result of these possible fluctuations, the Company's actual results may differ from our projections. Further, preliminary results are subject to normal year-end adjustments. Other factors that could cause such differences include the pace and timing of the consummation and integration of past and future acquisitions, the Company's ability to realize cost savings and efficiencies, competitive and general economic conditions, retention of staff and clients and other risks described under the heading "Item 1A. Risk Factors" in the Company's most recent Form 10-K and in the Company's other filings with the Securities and Exchange Commission. We are under no duty to update any of the forward-looking statements to conform such statements to actual results or events and do not intend to do so.
SOURCE FTI Consulting, Inc.