AMSTERDAM:The company announced that it has completed the sale of its Netherlands business to InterBalance Group B.V. as part of a local management buyout of the business for €8.1 million in cash, subject to a customary post-closing working capital adjustment.
The company also announced that it has entered into a definitive agreement to sell its Americas IT staffing business to Mastech, Inc. The transaction is expected to close during the second quarter of 2015, subject to customary closing conditions. The terms of the agreement include a $17 million cash purchase price payable at closing with Hudson retaining the working capital of the Americas IT staffing business.
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These sales are consistent with Hudson’s strategy to focus on its core businesses to accelerate growth, drive towards sustained profitability and increase the value of the company for its stockholders.
“We are pleased to announce the agreements to sell our Netherlands business and Americas IT staffing business. We look forward to completing the IT transaction and successfully transitioning these businesses to InterBalance and Mastech,” said Manolo Marquez, chairman and chief executive officer at Hudson.
