Toronto, Ontario – CNC Global Limited continues to grow with acquisition of Anjura Technology Corporation Deal makes CNC Global the country's largest provider of IT staffing solutions.
CNC Global Limited, Canada's leading provider of IT staffing and workforce management solutions announced today that it has acquired the Anjura Group of Companies. Included in the transaction are Anjura Services Inc., Solutions Anjura Inc., and the contract consulting division of Anjura Technology Corporation. The combined entity will have annual revenues of approximately 250 million dollars. With this deal, CNC Global strengthens its presence in the National Capital Region and gains a foothold in Canada's contact centre ma rket. Anjura's bio-informatics software division was not included in the transaction.
"This move is an important one for us," noted Lyle Kerr, CNC Global's chief executive officer. It expands our delivery network at a time when national capabilities are becoming more important to our customers. It also makes CNC Global the largest provider of IT staffing solutions in the country, with combined revenues of about a quarter-billion dollars. In today's maturing IT staffing industry, we're now better positioned than ever to take advantage of new business opportunities."
Terry Power, CNC Global's chief operating officer, added "We were impressed with Anjura from the start. It has a corporate culture similar to our own and its solid reputation for quality and flexibility were critical factors in the deal. We look forward to working with Anjura's people as we leverage their expertise across our entire organization."
Chris Nuttall, President of Anjura, was equally enthusiastic about the deal. "We are pleased to be a part of Canada's largest IT staffing solutions provider. We are confident that with CNC Global, we have found a partner that not only shares our customer-focused philosophy, but will ensure that we build on the client relationships we have developed." According to Eric Berke, a senior partner with TorQuest PARTNERS INC., CNC Global's majority shareholder, "this deal comes at a time when the Canadian IT staffing industry is ripe for consolidation. We're pleased to be able to support this deal and we expect to see more announcements of this kind in the near future."
All Anjura shareholders will become shareholders of CNC Global. Additional details of the deal were not released. About CNC Global Limited With more than 200 employees CNC Global specializes in sourcing IT professionals for full-time and contract positions and offers customized solutions for contractor administration, payroll administration, vendor management, recruitment advertising and HR communications. CNC Global was named as Canada's Top Small-Medium Employer in 2004 and is listed as one of Canada's 50 Best Managed Companies."
About Anjura Technology Corporation Anjura was founded in 1992 to provide Information Technology Consulting Services to clients in both the private and public sectors. Today, its service offerings include e-solutions, bio-informatics software and customer contact centre services. Over the past decade, Anjura has experienced exceptional growth and currently includes a core group of over 120 consultants and more than 1,000 customer service agents producing annual revenues in excess of $55 million.
About TorQuest Partners Inc.
TorQuest Partners Inc. is a Canadian-based manager of private equity funds. Its TorQuest Partners Value Fund, L.P., with a capitalization of over $180 million, pursues and manages investments in middle and later stage companies. The fund's stated objective is to invest in meaningful positions in established businesses, where TorQuest takes a leadership role in helping to implement valuecreation and growth strategies. For more information see www.torquest.com