Marking its second deal this month, top-ranked firm Armanino McKenna has acquired Cupertino, Calif.-based ValueNomics Research Inc., boosting its business valuation and litigation support practice and strengthening its presence in Silicon Valley and San Diego.
Earlier this month, the accounting and consulting firm acquired the health care auditing practice of San Francisco-based Clare, Chapman, Storey & Bowen. The deals are part of Armanino's strategy of becoming a one-stop shop for clients and expanding beyond its East Bay locations.
"ValueNomics' staff has extensive skills and expertise in technology and non-tech companies, as well as a client base and geographic reach that fit very well into our strategic plan for growth," said Andy Armanino, managing partner of Armanino McKenna.
In addition to a trademarked suite of valuation services, ValueNomics performs forensic valuation compliance services for state and federal courts, arbitrations, securities regulators and tax authorities, as well as providing research and reporting services to businesses to support transactions such as mergers and acquisitions, competitive intelligence, industry trends, economic trends, transaction data benchmarking and other services.
ValueNomics founder and chief executive Gary E. Jones will join Armanino McKenna as a senior consultant. Additional ValueNomics professionals and employees will also join the accounting firm as part of the transaction, which is effective May 1st. Following the acquisition, ValueNomics will continue to operate out of its current Cupertino and San Diego locations.
"Work generated by Sarbanes-Oxley Section 404 and other regulations, minority shareholder disputes, and estate compliance, as well as valuations of closely held businesses owned by clients who are preparing for retirement, has driven the rapid growth of both the Armanino McKenna and ValueNomics valuation and litigation practices," said Jones, who noted that first-quarter billings are up more than 80 percent over the previous year. "Joining forces with Armanino McKenna will create additional opportunity for us in family law and divorce services, as well as in disputes involving damages and lost profits -- exactly what we need at this time."
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