Tech consultancy Gartner is 'exploring and evaluating strategic alternatives', including a possible sale, for its CEB Talent Assessment business, formerly SHL.
Best practice and talent management insights firm CEB was bought in January in a cash and stock transaction valued at around $2.6bn. At the time, Gartner CEO Gene Hall (pictured) said the combination would create 'the leading global research and advisory company for all major functions in the enterprise'. Since then, reporting another good set of results in August, he suggested the integration of Gartner and CEB was 'going extraordinarily well'.
However the Talent Assessment part of the CEB business seems not to be included in this: Hall now says it is 'the right time to explore potential alternatives' for the unit, explaining: 'Since acquiring CEB Talent Assessment as part of the CEB acquisition earlier this year, we have repositioned the business to drive long-term growth'. He continues: 'While CEB Talent Assessment is a recognized industry leader in a rapidly expanding marketplace with significant growth opportunities, it is not aligned with our core focus of providing research and advisory services to address the mission-critical priorities of every functional leader in the enterprise'.
CEB Talent Assessment's revenue for the twelve month period ending June 30th 2017 was around 6% of Gartner and CEB's combined adjusted revenue.
Gartner has retained Evercore as financial advisor and Cooley LLP as legal advisor in the current process, but as usual with such reviews, the company stresses there is no timetable for the review and no assurance that it will be announcing or agreeing a transaction.
Headquartered in Stamford, CT, USA and with more than 13,000 associates in 100 countries, the group is online at www.gartner.com .