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Vedior buying share of German firm

November 29 2007
Vedior NV struck a deal to buy 70% of a German provider of information technology staffing. The company, known as GULP Information Services GmbH and GULP Consulting Services GmbH, was founded in 1996 and is based in Munich, Germany, with operations in that country as well as Austria and Switzerland. It provides IT recruiting services and sells online access to a database of more than 60,000 contractors to employers and to the contractors allowing them to promote themselves. GULP had revenue of euro40.9 million (US$54.0 million) in 2006.

"This acquisition achieves two important objectives for Vedior," said CEO Tex Gunning. "Firstly, expanding our presence in the fast-growing German recruitment market and, secondly, enhancing our global presence in the provision of skilled IT professionals." Vedior had IT revenue of euro768 million (US$1.01 billion) in 2006.

GULP's management team will remain and keep a 30% interest in the company.

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