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ZeroChaos acquired Madeo Sourcing Group AB, an information technology consultant broker based in Stockholm, Sweden. Madeo’s business model includes finding IT consultants and sending them to client firms, with the consultants becoming employees of the client companies.
Madeo posted revenue of €110 million (US$149.6 million) in 2010, according to ZeroChaos. It has 54 internal employees. Terms of the transaction were not announced.
The company will become a hub for Orlando, Fla.-based ZeroChaos as it continues to expand, particularly in the Nordic and Eastern European markets where Madeo already has a foothold.
“The skills and systems developed by Madeo will strengthen our portfolio of services,” said ZeroChaos founder and CEO Harold Mills.