Korn/Ferry International, a Los Angeles-based executive search firm, recently announced that it has reached a deal to pay up to $95 million to acquire Minneapolis-based PDI Ninth House.

PDI Ninth House—a 45-year-old provider of talent management and leadership development solutions, including online interactive learning tools—will become part of Korn/Ferry’s leadership and talent consulting segment. It will operate as a wholly owned subsidiary, according to a filing with the U.S. Securities and Exchange Commission.

Korn/Ferry said it expects the deal to close by the end of this year. It will pay about $80 million in cash at closing to acquire PDI, which it says has between $90 million and $100 million in annual fee revenue. Under the terms of the deal, Korn/Ferry will pay up to $15 million more based on financial results during the 18 months following the acquisition. Korn/Ferry expects the purchase to be accretive to its earnings next year.

PDI Ninth House has nearly 200 consultants and serves clients on six continents, according to its website.

Korn/Ferry operates a Minneapolis office. Thursday calls to the company inquiring whether PDI’s operations will merge with the local Korn/Ferry office were not immediately returned.

“PDI Ninth House looks forward to joining Korn/Ferry,” PDI president and CEO R.J. Heckman said in a statement. “I believe that with the combined strength of our complementary services and aligned approach to R&D and developing new and innovative solutions, we will be unlike anything ever seen in the leadership industry.”

PDI Ninth House will benefit from Korn/Ferry’s “powerhouse brand” and global reach, Heckman added.

Korn/Ferry International CEO Gary Burnison said in a statement that the companies’ “combined suite of talent management offerings, rich intellectual property, and world-class people will immediately increase Korn/Ferry’s depth and scale in being the most relevant leadership organization in the world.”

Like what you just read? To receive business news directly in your inbox each Tuesday and Thursday, sign up for our free e-newsletter, Briefcase, and be sure to join the conversation by commenting below.