Navigant Acquires Daylight Forensic – Analyst Blog

Further enhancing its global investigative services offering, Navigant Consulting Inc. (NCI) recently announced the acquisition of Daylight Forensic & Advisory LLC, an international financial consulting and investigative firm based in New York.

Navigant has agreed to pay $30 million in cash at the closing and intends to pay an additional $10 million in cash on the first anniversary of the transaction. The acquisition is expected to be modestly accretive to the earnings in fiscal 2010.

Since its inception in 2006, Daylight Forensic has been focusing on financial investigations, anti-money laundering consulting, regulatory compliance, forensic technology services and fraud risk management. The combined company is expected to create synergies by offering a comprehensive portfolio of services in the global investigations and compliance sector. Moreover, it significantly expands Navigant’s presence and capabilities in the key New York market.

Additionally, Daylight Forensic brings 65 consulting professionals, with two founding officers– Ellen Zimiles, chief executive officer, and Joseph Spinelli, chief operating officer with more than 20 years of experience. This is further expected to strengthen the management team and put on board key professional excellence.

We believe the acquisition fits in with the Navigant’s product portfolio. With the addition of Daylight Forensic’s financial consulting and investigation services, Navigant is anticipated to augment its earnings and achieve its operational and performance goals.

Based in Chicago, Navigant is a leading provider of specialized consulting services. The company’s staff comprises seasoned consultants and industry leaders, providing litigation support and investigative services, claims-management and analysis, corporate finance services, discovery services, government contracting services and operations advisory and management process outsourcing services.