Hudson to Acquire Major IT Recruiter in China
February 07 2007 - 6:58PM
PR Newswire (US)
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. DATASOURCE: Hudson
Highland Group, Inc. CONTACT: Media: Sarah Kafenstok of Hudson,
+1-312-795-4202, ; or Investors: David F. Kirby of Hudson Highland
Group, +1-212-351-7216, Web site: http://www.hhgroup.com/
http://www.hudson.com/
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