HiTech Group Australia buys Hudson assets in $7M deal

• HiTech Group Australia has signed a binding agreement to acquire the Australian operations of Hudson Global Resources.
• The transaction involves an upfront cash consideration of $190 million in revenue.
• The company is pursuing the acquisition to expand its national footprint and diversify its professional services earnings.

HiTech Group Australia (ASX:HIT) executed an agreement to acquire Hudson Global Resources assets for an upfront consideration of $7 million.

The transaction follows a previous market announcement released on June 23 regarding a proposal to the administrators.

The acquired business assets contribute approximately $190 million in revenue on a pro forma financial year 2026 basis.

The company will fund the transaction through a combination of existing capital and committed debt facilities.

Following the announcement, the HiTech Group Australia share price was down at $0.90.

The transaction expands the geographic footprint of the business into New South Wales, Queensland, and Western Australia.

The company stated that the asset acquisition structure limits its direct exposure to historical liabilities.