Duff & Phelps to acquire Lumin Expert Group

Financial consultant Duff & Phelps Corp. said Monday it has agreed to acquire consulting firm Lumin Expert Group, for an undisclosed amount.

Lumin, of Houston, has nine employees and specializes in intellectual property dispute support and expert testimony. The company will be a part of Duff & Phelps' dispute and legal management consulting business.

"Adding a high quality intellectual property and commercial litigation practice is consistent without corporate mission of protecting, recovering and maximizing value for our clients," said Duff & Phelps President Gerry Creagh in a statement.

The announcement comes nearly two weeks after Duff & Phelps agreed to acquire Kane Reece Associates Inc., a valuation consulting firm, for an undisclosed price. Two months ago, Duff & Phelps said it had established presences in Shanghai, Hong Kong and Beijing, marking its entry into the Chinese market.

Duff & Phelps employs more than 1,100 workers throughout the U.S., Europe and Asia.

Its shares fell 40 cents, or 2.4 percent, to $16.05 in afternoon trading.