Staffing provider On Assignment to buy rival Apex Systems for $600 mn
21 Mar 2012
US-based staffing provider On Assignment Inc today said that it will buy rival Apex Systems Inc for $600 million, including debt and create the second-largest IT staffing firm in the US.
Founded in 1995, Richmond, Virginia-based Apex Systems provides contract, temp-to-perm and direct placements and offers a variety of other services, including RPO, Statements of Work (SOW) and specialty skill sourcing.
Privately-held Apex Systems specialises in providing clients with experts and skilled professionals from the information technology industry.
It operates in 49 locations across the US and reported net profit of $65 million on revenues of $700 million in 2011.
Founded in 1985, Calabasas, California-based On Assignment is a global provider of highly skilled professionals in life science, technology, and healthcare sectors.
Apex Systems' IT staffing services are complementary to those offered by its existing technology division, Oxford Global Resources.
