Recruitment firm Matchtech Group (MTEC: LN) today completed its acquisition of staffing firm Networkers International (NWKI: LN). The deal, which was agreed in principle on 28 January 2015 by the companies’ boards, received court approval earlier this week.

As consideration under the scheme of arrangement, Matchtech has issued 0.06 new shares for every Networkers shares. According, application has been made to the London Stock Exchange to the new shares to be admitted to trading, with admission expected to take place today.

Brian Wilkinson, Chief Executive Office of Matchtech, commented: “There are significant market opportunities for us as a specialist recruiter, of considerable scale and operating internationally. These are driven by the increasing convergence of Engineering, Technology, and Telecoms skillsets, as well as the global demand for talent.”

“Following the completion of the acquisition of Networkers, we are a significantly enhanced Group. We can now accelerate the delivery of our strategy, bringing together two complementary businesses that are leading market players in their own right. Furthermore, there is a clear appreciation, from management, staff and customers alike, of the benefits that come from combining candidate bases, expertise, and geographical footprints.”

“The new Executive Management Board is excited to now push ahead with plans to integrate the businesses. This will provide a greater client and candidate experience, while also delivering on our strategy to become the market leading specialist recruiting in Engineering, Telecoms, and Technology for the benefit of our employees and shareholders. All of this provides the Group with a strong platform for future growth,” Mr Wilkinson added.