Futuris Co. agreed to acquire the specialized healthcare staffing business of Recruiter.com Group Inc. (NASDAQ: RCRT), a provider of an online recruiting platform and recruiter staffing services.

The terms of the acquisition call for New York-based Recruiter.com to transfer specific client contracts to Futuris or its related entities. The transaction price includes Futuris stock valued at $500,000 and a share of the ongoing gross profit, with a maximum of $2 million.

The transaction is expected to close upon the fulfillment of the closing conditions, including necessary client approvals.

Futuris, based in Rockville, Maryland, focuses on executive search, staffing, consulting and tech services.

“This transaction represents a significant milestone in our strategy to focus on our core business while providing our clients with top-tier service,” Miles Jennings, CEO of Recruiter.com, said in a press statement. “By passing our healthcare staffing business to Futuris — a company known for its successful integrations and impressive growth — we're setting the stage for the next exciting chapter of business expansion. We anticipate great things from Futuris in the future.”