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Australian firm to buy ex-Westaff division

August 28, 2009
Staffing Industry Analysts North American Daily News

Total Staffing Solutions Ltd., an Australia-based staffing firm, signed a deal to acquire the Humanis Group Ltd. in a stock deal, the company announced today. Humanis had acquired the Australian and New Zealand operations of Westaff Inc. in November 2008.

Total Staffing reported the deal calls for issuing of 1.778 new Total Staffing shares to Humanis shareholders for every one share on issue. It would value the deal at AUS$9.2 million (US$7.7 million) and Humanis shareholders would hold 64% of issued shares in Total Staffing.

Humanis ranks among the largest blue-collar labor providers in Australia and New Zealand, according to Total Staffing.

The deal is subject to shareholder and regulatory approval. Humanis had revenue of approximately AUS$109 million (US$90.6 million) over the last year, according to Total Staffing.

After selling its Australian and New Zealand operations in 2008, Walnut Creek CA-based Westaff was acquired in 2009 by Koosharem Corp., which operates Santa Barbara CA-based Select Staffing.