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Munich-based IT staffing specialist Allgeier has acquired the Turkish recruitment provider Oxygen Consultancy with the firm strengthening its international expansion with the acquisition.
Metrics of the deal were not published.
Oxygen Consultancy will be merged with Allgeier’s division Allgeier Experts. Allgeier said it had acquired a 90% stake in the recruitment provider and was reviewing the contract this week.
The acquisition is part of Allgeier’s strategy to expand internationally, especially in emerging markets such as Turkey. Earlier this year the firm bought German staffing firm Tecops. Allgeier achieved revenues of €378.8 million in 2011.
Oxygen Consultancy, founded in 2001 in Belgium, is headquartered in Istanbul and specialises primarily in the IT sector but also services other professional sectors such as finance & accounting and life science. The firm offers recruitment solutions in Turkey, Central Asia and the Near East. Their clients include international companies such as Merrill Lynch, Abbott, Pfizer, DuPont, Sony, Sun Microsystems as well as local firms.
Founder and chairman of Oxygen, Cagri Alkaya, will join Allgeier’s board of directors, owning a 10% stake in Oxygen.