NEW YORK and HOUSTON, February 7, 2006 -EquaTerra and TPI, Inc. today announced the signing of their merger agreement. Closing is anticipated later in February, 2006.
Additionally, the firm has selected a new name that embodies the values, objectivity and heritage of both firms - Veritage. The name, rhyming with heritage, symbolizes the integrity and the expertise each firm has delivered to their clients over the years. The firm will continue its leadership and innovation in the industry as it begins operating as Veritage upon closing.
"It was important to our employees that we preserve the best practices, history and principles from each firm. We chose a name that leverages the expertise and learnings of each company, and one that will help position us as the leader in the outsourcing and business transformation industry," commented Ed Glotzbach, CEO of the new firm post-closing. "Veritage will provide clients deeper market knowledge and broader functional expertise with greater global scale and innovation than either company could provide on its own."
In addition to Ed Glotzbach as CEO, Veritage will also be led by President and COO, Mark Toon, and a post-close operating leadership team to include:
- Corporate Development, Mark Hodges
- Chief Financial Officer, Ron Lacy
- Human Resources, Martha Preston
- Market Development, Peter Allen
- Knowledge Services, Mark Hodges and Peter Allen
- Public Sector, Glenn Davidson
- Outsourcing Management / Sourcing Management, David Karabinos
- Global Advisory Operations, Mark Mayo
- Americas, Bill Weathersby
- Europe and Asia-Pacific, Duncan Aitchison
Global Account Management, Pat Blake
With almost 600 employees based around the globe, the firm will provide strategic advice and implementation assistance for clients as they transform their business functions in key areas such as outsourcing, shared services, insourcing and captive center implementation.
ABOUT EQUATERRA
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[at]EquaTerra.com; www.EquaTerra.com.
ABOUT TPI
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 $385 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.
PRESS CONTACTS:
jolie.newman[at]EquaTerra.com stephanie.nelson[at]tpi.net
Europe:
Gina Blackie, EquaTerra Amy Butler, Marketforce Communications, for TPI
Tel: 44 118 9333107 Tel: 44. 20 7760 8616 / 020 7608 3222
Email: gina.blackie[at]EquaTerra.com Mobile: 07958 429 685
Email: abutler[at]marketforce.eu.com
Jolie Newman
1 407.677.8404 (o)
1 321.439.6670 (m)