Talent2 International Limited (TWO), Asia Pacific’s leading Human Resource Outsourcing company, is pleased to announce that it has completed the acquisition of Origin HR. Origin HR is a leading provider of online vocational education and training. Origin owns its own customised software developed especially for the VET sector and boasts some of the country’s leading financial services, banking, legal and accounting firms as its customers. Origin also has a growing franchise business allowing for greater access to regional centres. Origin HR has annual revenues of approximately $2 million. The acquisition, which requires an initial payment, and further payments based on the earnings of Origin HR for the financial years ending 30 June 2011 and 2012, will be funded through a combination of cash (60%), and equity (40%).
John Rawlinson CEO of Talent2 said “Origin HR is a great addition to our vocational training business and helps us achieve our goal of being leaders in workplace training. Improving workforce productivity through effective and efficient workforce training and assessment is vital to the success of our clients, and we will continue to invest in this area. The Australian vocational training market is estimated at $6.8 billion, and given our client base, reach, and capability, we are confident that this will be a profitable growth area”. Matt Jacobsen CEO of Origin HR said “We saw a terrific fit with Talent2 Sugar. It provides us greater distribution through Talent2’s existing customer base and will give us scale and the ability to grow our franchise network from six to twenty five over the next two years. We are very excited about the growth of our business and are looking forward to helping Talent2’s clients manage their vocational training requirements”.
Talent2 is leading the region in executive recruitment, HR business process outsourcing and technology. It is focused on providing integrated HR solutions that are innovative and effective. Talent2 helps its clients to ’Acquire, Manage and Optimise’ their talent so that they can focus on growing their businesses. Talent2 has offices across Australia, Bahrain, China, Hong Kong, India, Japan, Malaysia, New Zealand, Oman, Papua New Guinea, Qatar, Singapore, Taiwan, UAE, UK and USA to serve its extensive client base of blue-chip multi-nationals and public sector organisations.
http://www.traderdealer.com.au/Fundamentals/TWO
Tags: acquisition, Origin HR, Takeover, Talent2 International, TWO
