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IA Global buys stake in Tokyo staffing firm

December 27 2007
IA Global Inc. (AMEX: IAO), a San Francisco-based holding company, said it struck a deal to acquire an 80% stake in Tokyo-based staffing company Esprit Inc. The company provides recruiting in the financial, automotive, fashion, and medical markets. Paul Goldsmith, Esprit co-founder, will remain with the company as president of Esprit. Goldsmith is currently president of both Esprit and Elite Corp. and also founded Panache Corp., a Japan-based information technology staffing firm. Goldsmith first came to Japan in 1985 when he worked for Adia SA, now Adecco SA.

The deal marks IA Global's fourth investment in the human resources industry in Asia. It has a stake in Japan-based executive search firm Slate Consulting and job board operator GPlus Media, and acquired the Tokyo-based outsourcing business of LINC media.

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