HiTech secures ACCC approval for Hudson asset deal

• The ACCC granted unconditional Phase 1 clearance for HiTech Group Australia to acquire selected assets of Hudson Global Resources.
• The regulatory approval satisfies a key condition precedent, moving the transaction towards expected completion shortly after a 14-day statutory period.
• The acquisition expands HiTech's workforce solutions and professional services footprint across public and private sectors.

HiTech Group Australia (ASX:HIT) has secured unconditional Phase 1 clearance from the Australian Competition and Consumer Commission for its proposed acquisition of certain assets of Hudson Global Resources (Aust).

The decision follows an official review under Australia's mandatory merger control regime after Hudson entered voluntary administration in April.

"In its decision, the ACCC determined that the acquisition is not likely to substantially lessen competition in any relevant market," stated the regulator.

Completion remains subject to no application for review being filed during the 14-day statutory period following publication of the regulator's reasons.

Following the announcement, the HiTech Group Australia share price was unchanged at $1.25.

The underlying deal structure involves acquiring selected assets and operations that are expected to generate approximately $190 million in pro forma revenue for the 2026 fiscal year.

HiTech previously agreed to an upfront cash consideration of $7 million, along with up to $3 million in conditional deferred consideration based on future cash generation.