HiTech to Acquire Hudson Global Australia

Key points

• Expands HiTech's geographic footprint across Australia
• Diversifies earnings beyond ICT recruitment and consulting
• Strengthens Government capability with Hudson's relationships

Full summary

HiTech Group Australia Limited (ASX: HIT) has entered into a binding agreement to acquire the Australian operations and selected business assets of Hudson Global Resources Australia from its Administrators for an upfront consideration of A$7 million. The acquisition significantly expands HiTech's national footprint, diversifies earnings beyond ICT recruitment and consulting, strengthens its Government capability, and establishes a substantial platform for future organic and acquisition-led growth. The Transaction will be funded through a combination of existing capital, committed debt facilities, and other relevant capital sources. The Transaction is expected to be earnings accretive following integration.