Japanese staffing firm Quick Co. Ltd (4318: JP) announced that its subsidiary Kronos will be acquired by the Baristride Group, a Japan-based IT consulting services firm.

The effective date of the acquisition is 3 October 2022. The price of the transaction was not disclosed.

According to Quick Co, Kronos will be transferred, and management resources will be concentrated in the fields of human resources and information to stabilise the group’s earnings base.

Kronos is involved in web system and application development, digital transformation solutions, and development training for IT engineers.

The technological capabilities and customer base of Kronos will be applied to Baristride’s AI solution business, which is expected to grow in the future. Baristride aims to expand its customer base in the Osaka area, strengthen its IT education and training business, and expand its customer base in the Osaka area.

Looking ahead, Quick Co said it believes that the impact of the selling of Kronos on its earnings forecast for the current consolidated fiscal year will be minor but added that it will make revisions in the future.