Dutch staffing firm HeadFirst Source Group NV announced that it has acquired 100% of the shares of Myler, a company based in the Netherlands that specialises in matchmaking, contract management and global sourcing, mainly in the IT sector.

Myler will become a subsidiary of the HeadFirst Source Group. The price of the transaction was not disclosed.

“With this merger, HeadFirst Source Group strengthens its role as market leader in the mediation and hiring of external professionals; matchmaking, contracting and payrolling,” the group stated.

HeadFirst said the acquisition also strengthens its market position as well as its international activities and will contribute positively to group profit.

Myler, founded in 2009, had annual turnover for 2017 of €192 million. For the full year 2018, the group expects to exceed €200 million in turnover due to organic growth.

The transaction is subject to the agreement of the Authority for Consumers and Markets. The closing of the transaction is expected to take place by 1 October 2018 at the latest. Based on this, Myler is expected to contribute a quarter of turnover in 2018.

Once the full effect of the takeover becomes visible, based on the current estimates, HeadFirst expects turnover of approximately €740 million for 2019.