Global expert services firm LECG Corp. (XPRT) said that it has closed its merger with SMART Business Advisory & Consulting LLC, a privately-held provider of business advisory services.
With the addition of SMART, LECG increases its talent pool of premier consultants and expands its client base to include SMART's Fortune 200 customers.
The combined company is expected to generate improved financial performance, with incremental revenues from cross-selling opportunities and SMART's financial advisory and business consulting practices including technology, business process improvement, compensation and benefits, accounting, actuarial and tax.
Under the merger agreement, LECG issued about 10.9 million shares of common stock to acquire all of SMART's outstanding shares.
Concurrently, LECG issued about 6.3 million shares of a newly created Series A Convertible Redeemable Preferred Stock at a purchase price of $3.96 per share in exchange for a $25 million cash investment in the combined company by Great Hill Partners.
The company anticipates these transactions will be accretive in 2010 and expects to realize business and margin improvements in 2010, including at least $6 million in annualized operating savings.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.