Recruitment process outsourcing provider Hudson Global Inc. (NASDAQ: HSON) acquired Coit Group, an RPO provider based in San Francisco, expanding its footprint on the West Coast and in the tech sector.

Founded 20 years ago by Joe Belluomini and Tim Farrelly, Coit procures talent for high-growth companies, predominately in the San Francisco Bay Area. With this acquisition, Hudson RPO significantly expands its presence in the technology sector and establishes an office in San Francisco.

Hudson Global, which is based in Old Greenwich, Connecticut, acquired substantially all of the assets used in Coit’s business, effective Oct. 1, according to a filing with the US Securities and Exchange Commission. The transaction includes $4 million in cash at closing; $1.35 million payable in three annual installments and subject to the satisfaction of certain conditions; $500,000 worth of shares of Hudson Group’s common stock; and earn-out payments in an aggregate amount not to exceed $3.53 million over a two-year period upon the achievement of certain performance thresholds, subject to the satisfaction of certain conditions.

Belluomini and Farrelly each entered into two-year employment agreements with Hudson Global; they will become co-CEOs of Hudson RPO’s newly formed technology group. The technology group will operate jointly with Hudson RPO’s existing teams in the Americas, Asia Pacific and EMEA regions to grow Hudson RPO’s service offering to technology clients.

“The addition of Coit significantly expands Hudson RPO’s presence in the technology sector and on the West Coast,” said Jeff Eberwein, CEO of Hudson RPO. “Hudson RPO now has an office in the San Francisco/Silicon Valley region staffed with a talented team which, combined with Hudson RPO’s global delivery capability, positions us well to serve the global growth ambitions of companies located in this thriving region.”