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Netherlands – DPA reignites stalled merger talks

20 November 2013

Dutch recruitment company DPA Group NV (DPA: NL) is reportedly re-launching merger discussions with Netherlands-based technology company ICT Ausmatisering, reports fd.nl. DPA had announced its original merger intentions in a press release in June 2013, but talks did not progress.

Media reports at the time suggested that ICT was surprised at the merger bid, claiming that the offer significantly undervalued the company.

The departure of ICT Automatisering’s CEO Carlo D’Agnolo, a staunch opponent of the merger, has reignited merger discussion.

DPA CEO Eric Winter commented to fd.nl: “With [Mr D’Agnolo’s] unexpected departure, there is a greater chance for the success of our original plans.”

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.

DPA Group is a specialist IT, financial, and legal staffing firm, ranked among the largest recruiters in the Netherlands. In recent months DPA has acquired two other companies Technipower BV and Cauberg-Huygen Consulting Engineers BV. In their most recent financial statement, the company reported solid Q3 results, with increased profit of +5.1%. 

In trading today, the company’s share price rose by +1.23% to €1.65, an increase of +22.3% compared with a year ago. Based on its share price, the company has a current market value of €75.04 million. 

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