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The Hackett Group, Inc. Amends Dutch Auction Tender Offer

  The Hackett Group, Inc. Amends Dutch Auction Tender Offer

Business Wire

MIAMI -- September 27, 2013

The Hackett Group, Inc. (NASDAQ: HCKT), a global strategic advisory and
operations improvement consulting firm, today announced that it has amended
its previously announced modified "Dutch auction" tender offer (as amended,
the “Offer”) to (1) increase the price range at which it will purchase its
common stock to a range of not greater than $7.00  nor less than $6.50  per
share and (2) decrease the dollar amount being sought in the Offer to $25
million in value of common stock. Previously, Hackett had offered to purchase
up to $35.75 million in value of common stock at a purchase price of not
greater than $6.50 nor less than $5.75 per share.

The Offer, which was previously scheduled to expire at 5:00 p.m., New York
City time, on September 26, 2013, will be extended until 5:00 p.m., New York
City time, on Tuesday, October 15, 2013.

Based on the preliminary count by Computershare Trust Company, the depositary
for the Offer, approximately 603,000 shares of common stock were properly
tendered and not properly withdrawn as of 5:00 p.m. on September 26, 2013.

Modified Dutch Auction Tender Offer

A modified “Dutch auction” tender offer allows stockholders to indicate how
much stock and at what price within the Offer range they wish to tender their
stock. Based on the number of shares tendered and the prices specified by the
tendering stockholders, Hackett will determine the lowest price per share that
will enable it to purchase $25 million in value of common stock at such price,
subject to the terms of the Offer. All stock purchased in the Offer will be
purchased at the same price, even if the stockholder tendered at a lower
price, so in some cases Hackett may purchase stock at a price above the price
indicated by the stockholder tendering that stock. If the Offer is fully
subscribed, then $25 million in value of common stock at the purchase price
determined by Hackett will be purchased (subject to Hackett’s ability to
increase the number of shares purchased in the Offer as noted below),
representing approximately 11.3 percent to 12.2 percent of outstanding common
stock as of September 26, 2013. In accordance with the rules of the Securities
and Exchange Commission (“SEC”), Hackett may increase the number of shares of
stock accepted for payment in the offer by no more than 2 percent of the
outstanding stock without amending or extending the Offer. The Offer will now
expire at 5:00 p.m., New York City time, on October 15, 2013, unless further
extended.

If, at the final purchase price, shares representing more than $25 million in
value of common stock at the applicable purchase price (or such greater number
of shares as Hackett may choose to purchase without amending or extending the
Offer) are properly tendered, not properly withdrawn from, and are accepted
pursuant to the Offer, Hackett will purchase stock tendered at or below that
price on a pro rata basis. The Offer will not be conditioned upon any minimum
number of shares being tendered. The Offer is, however, subject to certain
conditions described in the offer to purchase, which has previously been
distributed to stockholders. Hackett will be distributing an amended letter of
transmittal and related documents that will contain tendering instructions.

What Stockholders Need to Do Now

Hackett will be distributing an amended letter of transmittal and related
documents to stockholders. Stockholders who have already tendered shares and
indicated that they would be willing to sell their tendered shares to us at
the final purchase price determined under the Offer and who do not wish to
change that direction, do not need to take any further action. All previous
tenders by stockholders who did not indicate that they would be willing to
sell their shares at the final purchase price determined under the Offer have
been invalidated. Therefore, such stockholders, and any other stockholders who
wish to tender their shares in the Offer, must deliver an amended letter of
transmittal to the depositary for the Offer on or prior to the expiration
date.

While Hackett’s Board of Directors has authorized the Company to make this
amended Offer, neither Hackett nor its Board of Directors make any
recommendation to any stockholder as to whether to tender or refrain from
tendering any stock or as to the price or prices at which stockholders may
choose to tender their stock. Hackett has not authorized any person to make
any such recommendation. Stockholders must decide whether to tender their
stock and, if so, how much stock to tender and at what price or prices. In
doing so, stockholders should carefully evaluate all of the information in the
tender offer documents, as amended, before making any decision with respect to
the Offer, and should consult their own financial and tax advisors.

Stockholders who have questions may call Georgeson Inc., the information agent
for the Offer, at (866) 628-6023 (toll free).

Important Notice

This press release is for informational purposes only and is not an offer to
buy or the solicitation of an offer to sell any shares of common stock. The
solicitation and offer to buy common stock is being made solely pursuant to
the offer to purchase, as amended, the amended letter of transmittal and the
other tender offer documents, which are being distributed to stockholders.
Hackett has previously distributed the offer to purchase to stockholders and
will be distributing an amended letter of transmittal, an amended notice of
guaranteed delivery and related documents. These documents will be filed as
exhibits to Hackett’s tender offer statement on Schedule TO, as amended, which
was originally filed with the SEC on August 28, 2013. A free copy of these
documents may be obtained when filed from the SEC’s website at www.sec.gov or
from Hackett’s website at www.thehackettgroup.com, or by calling Georgeson
Inc., the information agent for the Offer, at (866) 628-6023 (toll free).
Stockholders are urged to read these materials carefully prior to making any
decision with respect to the Offer.

Forward-Looking Statements

This press release contains “forward-looking statements” and involves known
and unknown risks, uncertainties and other factors that may cause The Hackett
Group’s actual results, performance or achievements to be materially different
from the results, performance or achievements expressed or implied by the
forward-looking statements. Factors that impact such forward-looking
statements include, among others, the ability of our products, services, or
practices mentioned in this release to deliver the desired effect, our ability
to effectively integrate acquisitions into our operations, our ability to
retain existing business, our ability to attract additional business, our
ability to effectively market and sell our product offerings and other
services, the timing of projects and the potential for contract cancellations
by our customers, changes in expectations regarding the business consulting
and information technology industries, our ability to attract and retain
skilled employees, possible changes in collections of accounts receivable due
to the bankruptcy or financial difficulties of our customers, risks of
competition, price and margin trends, foreign currency fluctuations, changes
in general economic conditions and interest rates as well as other risks
detailed in our reports filed with the SEC. We undertake no obligation to
update or revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise, except as required by law.

About The Hackett Group, Inc.

The Hackett Group, Inc. (NASDAQ: HCKT), a global strategies business advisory
and business transformation consulting firm, is a leader in best practice
advisory, benchmarking, and transformation consulting services including
strategy and operations, working capital management, shared services and
globalization advice. Utilizing best practices and implementation insights
from more than 8,500 benchmarking studies, executives use The Hackett Group’s
empirically-based approach to quickly define and implement initiatives that
enable world-class performance. Through its REL group, The Hackett Group
offers working capital solutions focused on delivering significant cash flow
improvements. Through its Archstone Consulting group, The Hackett Group offers
Strategy & Operations consulting services in the Consumer and Industrial
Products, Pharmaceutical, Manufacturing and Financial Services industry
sectors. Through its Hackett ERP Solutions group, The Hackett Group offers
business application consulting services that help maximize returns on IT
investments. The Hackett Group has completed benchmark studies with over 3,500
major corporations and government agencies, including 97% of the Dow Jones
Industrials, 84% of the Fortune 100, 87% of the DAX 30 and 48% of the FTSE
100.

Contact:

The Hackett Group, Inc.
Robert A. Ramirez, CFO, 307-375-8005
rramirez@thehackettgroup.com