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Dutch staffing firm DPA Group has launched merger talks with Netherlands-based technology company ICT Automatisering. A merger could offer “significant” benefits, DPA announced in a press statement on Sunday.
ICT provides technological solutions in information and communication technology with services including the secondment of experienced and highly educated staff. The company is active in the Netherlands, Germany and Poland.
The recruiter said that a merger could benefit both DPA and ICT shareholders. The firms are currently in discussions over a possible merger and, according to DPA, ICT has indicated that it will investigate the options further.
But according to the latest media reports, ICT seemed surprised about the merger proposal, saying the offer DPA has made significantly undervalues the company. It added that the two firms differed substantially in their service offering. “There is no reason to believe that a merger would be of interest to ICT and its stakeholders,” the company said Monday.
DPA Group is a specialist IT, financial and legal staffing firm, ranked among the largest recruiters in the Netherlands. In March, the company reported a +29% in 2012 full-year revenue which amounted to €65.1 million.
In early trading, DPA’s shares rose marginally by +0.4% to €1.42, up +17% from a year ago. Based on this stock price, the firm has a market value of €64.31 million.