Hudson to Acquire Major IT Recruiter in China
Move Will Solidify Position as Asia’s Market Leader in Mid- to Senior-Level Recruitment
NEW YORK, Feb. 7 /PRNewswire-FirstCall/ — Seeking to expand its team presence and depth in mainland China markets Shanghai, Beijing and Guangzhou, Hudson (NASDAQ: HHGP) today announced that it signed a definitive agreement to acquire Tony Keith Associates Ltd. to better serve the talent needs of U.S. multi-nationals operating in Asia. The transaction is expected to close during the first quarter of the year, subject to customary closing conditions.
“This deal brings together two leading recruitment brands in the Chinese market,” said Gary Lazzarotto, chief executive officer of Hudson/Asia. “The combined expertise and geographic reach of one of China’s leading IT recruiters and our mid- to senior-level recruitment capabilities should be extremely attractive to U.S. multi-nationals seeking top talent to help enter the market or expand their operations in this high-growth region of the world.”
“Hudson’s global reach, talent network and client base will enable us to better serve our existing clients and candidates, and broaden our reach to other companies that could benefit from our specialized recruitment capabilities,” said Raymond Wong, partner of Tony Keith. “What’s more, and just as important, Hudson’s organizational culture and values mirror ours.”
Hudson, which has operated in four key Asia markets (Hong Kong, Japan, Singapore and China) for nearly a decade — will now number more than 350 professionals and seven offices primarily serving U.S. multi-national clients throughout that continent. Recently, the global recruitment and talent management firm was recognized by China’s World Management Review magazine as “Greater China’s Best Headhunting Firm of the Year” for 2006.
Hudson
Hudson (NASDAQ: HHGP) is a leading provider of permanent recruitment, contract professionals and talent management services worldwide. From single placements to total outsourced solutions, Hudson helps clients achieve greater organisational performance by assessing, recruiting, developing and engaging the best and brightest people for their businesses. The company employs more than 3,600 professionals serving clients and candidates in more than 20 countries. More information is available at http://www.hudson.com/.
Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the company’s strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward-looking statements, including our ability to complete the Tony Keith acquisition, economic and other conditions in the markets in which Tony Keith operates, risks associated with operating Tony Keith as part of Hudson Highland Group, unexpected developments relating to Tony Keith’s business after closing of the acquisition and other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.