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HiTech Group Australia Limited (ASX:HIT)

ALERT: Price-sensitive ASX Announcement for HIT
Current share price for HIT : $1.260 0.37 (41.57%)+
Announcement
Release
20 Jul 2026 8:36AM
Price at Release
$0.890
Full Release
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Summary
HiTech Group Australia Limited has announced its acquisition of Hudson Global Resources Australia, aiming to create a leading national workforce solutions and professional services platform. The transaction, valued at A$7 million, is expected to broaden HiTech's service offerings beyond ICT recruitment to include business support and project services, enhancing its market positioning and revenue base. The acquisition leverages Hudson's established government and private client relationships, adding significant operational scale and service diversity to HiTech. The transaction is structured to limit historical liabilities and is anticipated to be earnings accretive, supporting HiTech's strategy for sustainable growth and market expansion.
Key Points
  • HiTech Group Australia Limited is acquiring Hudson Global Resources Australia.
  • The acquisition aims to transform HiTech into a broader national workforce solutions and professional services platform.
  • The transaction involves an upfront consideration of A$7 million and is expected to contribute approximately $190 million in revenue on a pro forma FY26 basis.
  • The acquisition will diversify HiTech's services beyond ICT recruitment to include professional services, business support, project services, and permanent recruitment.
  • Hudson's longstanding relationships with Federal and State Government agencies enhance HiTech's government capabilities.
  • The transaction is structured as an asset acquisition to limit exposure to historical liabilities.
  • HiTech plans to maintain continuous operations and smooth transitions for Hudson's employees, contractors, and customers.
  • The acquisition is expected to be earnings accretive following integration.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.