Harvey Nash Group (HVN)

 

Harvey Nash acquires Belgian IT solutions company eMenka

Global technology recruitment and outsourcer Harvey Nash said Tuesday it had acquired Belgian IT solutions company, eMenka for an initial sum of €1m.

The acquisition was completed by Harvey Nash's Belgian subsidiary, Harvey Nash NV.

eMenka focuses on placing Microsoft specialists in full-time employee and independent contractor roles and is expected to grow Harvey Nash's businesses in its core markets in Northern Europe, Harvey Nash said.

'This business will enhance our position as one of the market leaders and fast growing IT solutions businesses in Belgium, creating a larger pool of Microsoft specialists and employees to fulfil growing client demand,' said Albert Ellis, Chief Executive Officer of Harvey Nash.

Under the terms of the acquisition, Harvey Nash Group NV will acquire 100% of the shares in eMenka for an initial cash consideration of €1m.

A deferred cash consideration of up to €1m would be paid on the third anniversary of completion subject to average EBIT performance over a three-year period starting on 1 February 2018 and ending in 31 January 2021, the Harvey Nash said.

At 10:00am: (LON:HVN) Harvey Nash Group PLC share price was +0.75p at 104p