Data#3 acquires recruitment business
March 31, 2008Extends national People Solutions capability through acquisition of Fingerprint Consulting Services, a Sydney-based premium IT recruitment business
BRISBANE, Australia — 31 March 2008 — Data#3 Limited [ASX: DTL], a national information and communications technology company today announced that it had signed an agreement to acquire the recruitment business of Fingerprint Consulting Services Pty Ltd.
Sydney based Fingerprint Consulting Services has been in operation for 4 years. It has gained a reputation as a premium supplier of predominantly Information Technology recruitment to a ‘blue chip’ customer base. For many of those customers the business also supplies a broader range of services.
“Ten recruitment specialists will join Data#3 as a result of the acquisition and this will considerably bolster our People Solutions business nationally and position it as one of the leaders in New South Wales,” said Data#3 Managing Director John Grant.
“Of particular significance is the fact that the two owners of Fingerprint Consulting Services, Steve Grace and Darren McConnell, will continue with the business full time. Both Mr Grace and Mr McConnell have long term experience in recruitment and associated human resources services.”
This acquisition follows the announcement last month of an acceleration of organic growth through the recruitment of almost 50 professionals previously with Commander.
“With our own customer base expanding rapidly the opportunity for broadening our recruitment footprint is considerable,” said Mr Grant.
The purchase consideration will be based on a multiple of earnings over a three year period, and will be payable in cash.
Mr Grant added, “the acquisition will have positive but not material impact on earnings per share in the current year, but is expected to grow strongly and contribute positively thereafter.”
Listen to John Grant, MD, discuss the Acquisition of Fingerprint Consulting Services
Media Release 20 March 2008 PDF
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