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Acquisitions
9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Business Combination Disclosure Acquisitions
Advancement Resources
On March 1, 2025, we acquired 100% of the ownership interests of Advancement Resources, a research-based, philanthropy-focused professional education services firm. The results of operations of Advancement Resources are included within our consolidated financial statements and results of operations of our Education segment as of the acquisition date.
Halpin Partnership Limited
On March 17, 2025, we completed the acquisition of certain assets and liabilities of Halpin Partnership Limited (“Halpin”), a U.K.-based management consultancy specializing in higher education fundraising, governance, and strategy. The results of operations of Halpin are included within our consolidated financial statements and results of operations of our Education segment as of the acquisition date.
Eclipse Insights LLC
On June 24, 2025, we completed the acquisition of certain assets and liabilities of Eclipse Insights LLC (“Eclipse Insights”), a revenue cycle consulting firm dedicated to helping healthcare organizations maximize revenue and improve cash flow. The results of operations of Eclipse Insights are included within our consolidated financial statements and results of operations of our Healthcare segment as of the acquisition date.
TVG-Treliant Holdings, LLC.
On July 11, 2025, we acquired 100% of the membership interests of TVG-Treliant Holdings, LLC. (“Treliant”), an advisory and managed services firm that provides expertise to the financial services industry in navigating regulatory requirements. The results of operations of Treliant are included within our consolidated financial statements and results of operations of our Commercial segment as of the acquisition date.
Wilson Perumal and Company, Inc.
On September 1, 2025, we acquired 100% of the ownership interests of Wilson Perumal and Company, Inc. (“WP&C”), a strategy and operations consulting firm specializing in managing complexity to drive organization efficiency, increase profitability, and improve growth rates. The results of operations of WP&C are included within our consolidated financial statements and results of operations of our Commercial segment as of the acquisition date.
Summary of Accounting Policy and Additional Information
Each of these acquisitions were accounted for using the acquisition method of accounting. Contract assets and contract liabilities are recorded at their carrying value under Topic 606: Revenue from Contracts with Customers. The current acquisition date values of assets acquired and liabilities assumed in the Treliant and WP&C acquisitions are considered preliminary and are based on the information that was available as of the date of each acquisition. We believe that the information provides a reasonable basis for estimating the preliminary values of assets acquired and liabilities assumed but certain items, such as the valuations of the intangible assets and the working capital adjustments, among other items, may be subject to change as additional information is received. Thus, the provisional measurements of assets acquired, including goodwill, and liabilities assumed related to the acquisitions of Treliant and WP&C are subject to change. We expect to finalize the valuations as soon as practicable, but not later than one year from the acquisition dates. We finalized the measurements of assets acquired and liabilities assumed related to the Advancement Resources, Halpin, and Eclipse Insights acquisitions during the first nine months of 2025.
The aggregate fair value of consideration transferred for all acquisitions completed in the first nine months of 2025 was $151.6 million, which consisted of $105.8 million in cash (inclusive of net working capital and other accrued proceeds adjustments), $27.1 million in Huron common stock, and $18.7 million in the acquisition date fair value of contingent consideration liabilities. Refer to Note 11 “Fair Value of Financial Instruments” for additional information on our contingent consideration liabilities. Refer to Note 5 “Goodwill and Intangible Assets” for additional information on the goodwill and intangibles acquired. No other significant assets or liabilities were acquired in connection with these acquisitions.
For the three and nine months ended September 30, 2025, we recognized total revenues of $15.3 million and $17.8 million, respectively, in the aggregate, from our acquisitions completed in 2025. We determined that it is impractical to determine the amount of earnings generated by the acquisitions, individually or in the aggregate, for the three and nine months ended September 30, 2025 due to the integration of operations after the acquisition date.