HiTech Group has completed its acquisition of Hudson Global Resources’ Australian operations, snapping up the IT staffing firm’s contractor book, customer contracts and operating assets ahead of Hudson’s planned liquidation on 15 September.
The move follows the Australian Competition and Consumer Commission (ACCC) granting unconditional Phase 1 clearance in respect of the IT staffing firm’s proposed acquisition of certain assets of Hudson Global Resources, which entered voluntary administration in April 2026.
HiTech announced in July that it planned to acquire the company’s Australian operations and selected business assets from its administrators.
“This acquisition is a significant step forward for our highly successful HiTech Group, but its value rests with the people and their expertise who join us today,” HiTech Managing Director and CEO, Elias Hazouri, said in a press release. “Hudson’s teams have built trusted relationships with customers, candidates and contractors over four decades and they have continued to deliver to a high standard through a demanding period.”
Since HiTech’s previous announcement on 4 September, the parties have agreed to reduce the upfront component of the consideration by approximately AUD 950,000 (USD 680,836) to just over AUD 4.801 million, less employee entitlements. It has also agreed to increase the maximum deferred consideration by approximately AUD 950,000 to AUD 3.948 million.
The Australian IT staffing provider has already paid an AUD 1.25 million deposit.
After adjusting for the employee entitlements, the upfront consideration payable on completion of the deal is approximately AUD 3.85 million.
The parties have also agreed that the deferred consideration is now payable within nine months of completion rather than six months, subject to future margin generation hurdles achieved by the acquired business assets.
The deal was structured as an asset acquisition out of administration, allowing HiTech to acquire Hudson’s operating assets, customer contracts and contractor book while limiting exposure to historical liabilities.
HiTech funded the upfront consideration from its existing cash reserves, together with a committed debt facility. An additional credit line will support ongoing payroll obligations.
Due to the administration process and the liquidation of Hudson, which is set to start on 15 September, the transaction has progressed on an accelerated timetable to completion.
HiTech said it remained focused on ensuring continuity of service, supporting its customers, employees and contractor base, and compliance during this period.
Integration will be phased, with shared services and systems consolidated where operationally practical. HiTech expects these efficiencies to support the earnings accretion anticipated from the acquisition.
The acquisition represents an important step in HiTech’s strategy to build a diversified national ICT (information and communications technology) professional services and workforce solutions platform.
“That capability, vigour and resilience is what we have acquired and it is what will lead the success of this transaction,” Hazouri said. “When you combine this rare capability with the experts at HiTech, you form what is an incomparable standard in the industry. We are pleased to welcome our new members to the HiTech family, and our commitment to them is certainty, support and the backing of a business with the stability to invest in their future.”
In August, HiTech reported operating revenue of AUD 65.9 million for the fiscal year ended 30 June 2026, a decrease of 3.2% over the previous corresponding period.
Hudson Australia has a 40-year history with operations across the country. Through the Hudson and UpperGround brands, the business provides recruitment, contracting and talent advisory services across IT, professional recruitment, business support, project services and executive search.
Hudson Global Resources is unrelated to the US-based Hudson Global, which merged last year with Star Equity Holdings.
Source: https://www.staffingindustry.com/news/global-daily-news/hitech-wraps-hudson-australia-acquisition-as-liquidation-looms