Establishes market leadership for driving sustained improvements in clients’ business support functions
NEW YORK and HOUSTON, November 14, 2005 — EquaTerra and TPI, Inc. today announced they signed an agreement to merge the two companies. In response to increasing demand for strategic, cross-enterprise outsourcing and shared services advice, the combined firm will provide expert advisory services across all geographies, all industries and all business support functions including Human Resources (HR), Finance & Accounting (F&A), Procurement, Information Technology (IT) and Customer Relationship Management (CRM). Together, the new firm will have approximately 550 employees in the Americas, Europe, and Asia-Pacific. The merger is expected to close in January, 2006.
The new firm provides the expertise, scale and global delivery capabilities to improve the business support functions of its clients. With deep functional expertise and industry knowledge, unique market analytics and research capabilities, the new company is positioned to create value for its clients through increased efficiency, improvements in service quality, and sustained reductions in operating costs.
Ed Glotzbach, CEO of the new firm, commented, “The leadership teams of our two firms are excited about this merger. Our combined organization will use its scale, data and knowledge to deliver innovation to the Global 2000 as they evaluate service delivery alternatives such as shared services, outsourcing and insourcing. Most executives of multi-national organizations are evaluating global service delivery options, and our new firm will deliver the industry experience, business process depth and market knowledge these clients demand.”
Mark Toon, President and COO of the new company, said, “We will continue to create value for our clients throughout their business process lifecycle – overall strategy through ongoing management and continued improvement. As a combined firm, we will have greater access to the skills, process expertise and market knowledge that will drive sustained improvements to our clients and the industry.”
Dennis McGuire, founder of TPI and Chairman of the new company’s Board of Directors, said, “Having followed each of these companies since their inception, this truly represents a landmark event for both firms and the industry as a whole. I know that Ed and Mark will build a unified company by taking the best methodologies, strategies and services that have made each firm successful. The industry continues to change, and this combined company will effectively meet the complex, global service delivery needs of its expanding client base.”
The new company – whose name will be made public in December 2005 – will also provide advisory services designed specifically for a variety of industry sectors, such as financial services and utilities, as well as for relevant offshore locations.
EquaTerra (www.EquaTerra.com) is focused solely on providing global corporations with outsourcing and insourcing advisory, research and governance services that enable them to achieve service delivery excellence for their administrative processes. EquaTerra’s advisors average more than 20 years of industry, service provider and process experience with functional leadership in Finance & Accounting, HR, IT and Procurement, and have been involved in over 600 global business transformation, outsourcing and outsourcing management projects.
For more information, please contact Lee Ann Moore at 713.669.9292; leeann.moore@EquaTerra.com; www.EquaTerra.com.
TPI is the world’s first and largest sourcing advisory firm. Recognized as the most informed resource of strategic sourcing advisory services, TPI founded the sourcing advisory industry 16 years ago. TPI represents enterprises seeking to evaluate the merits of outsourcing, not the service providers who bid on these engagements. Since 2000, TPI has advised on nearly 30 percent of total contract value awarded in the broader outsourcing market, including commercial contract awards valued at greater than $50M. Since its founding in 1989, TPI has advised on more than 700 transactions with a total contract value of US $373 billion. With more than 300 advisors to help clients find the right balance of value, speed-to-market and risk mitigation, we remain the most sought-out advisory firm in the global outsourcing industry. For more information, visit www.tpi.net.
# # #