UK-based technology recruiter InterQuest Group (AIM: ITQ.L), has announced the acquisition of a majority interest in boutique executive search firm Rees Draper Wright (RDW) with the right to acquire the remaining shares in RDW.

RDW is a boutique executive search firm for blue chip clients operating out of London and New York. The Board of InterQuest believes the acquisition of RDW presents a strong strategic fit as it can provide the opportunity to cross sell services in the new digital economy for both businesses and enable the company to expand its operations in the US with a New York platform to grow its digital, analytics and cyber security divisions. It will also be providing an opportunity for the management of RDW to continue their expansion plans into Europe; and adding an interim service to the company's search offering.

The group will also add Richard Draper, the Managing Director of RDW, who will join the Operational Board of InterQuest and Dan Richards, RDW's US Managing Director, who will lead the InterQuest's expansion and growth in the New York market.

RDW will have access to InterQuest's marketing/content origination and management coaching, as well as central services and will continue to trade under the Rees Draper Wright brand.

"RDW is an excellent fit for InterQuest Group, strengthening our reputation in the Global consulting sector and providing a platform to grow the Groups existing business in the US. We are excited about developing the RDW brand and building on InterQuest Group's digital specialisation."

As part of the consideration for RDW, Interquest will be issuing 728,000 new ordinary shares to the vendors on completion. Application has been made to the London Stock Exchange for the admission of 728,000 new ordinary shares to trading on AIM.