Royall & Co. to be Acquired for $850M

ROYALL & CO.: Richmond, VA-based Royall & Company has agreed to be purchased by The Advisory Board Company in an $850 million deal ($750 million in cash and $100 million in Advisory Board stock). Founded in 1983, Royall & Co. currently provides 290 colleges with student recruitment, enrollment, financial aid and alumni donation services. Richmond Times-Dispatch reports that Royall made $109 million in revenues in the 12-month period that end on Sept. 30. The Advisory Board is a publicly traded company that provides research, technology and consulting services to more than 3,900 hospitals and 600 universities. More details in the release. The deal is expected to close in January 2015.

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