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Staffing 360 acquires Boston firm

May 20, 2014

Staffing 360 Solutions Inc. (OTCBB: STAF) acquired IT staffing firm PeopleSERVE from Linda Moraski, PeopleSERVE’s founder and president. The transaction closed on May 17.

The Chestnut Hill, Mass.-based firm provides IT professional and management consultants on a contract and direct hire basis to state and local government, multinational and regional businesses and entrepreneurial firms throughout the greater Boston area. It had revenue of approximately $17 million in 2013.

The company will operate under the brand PeopleSERVE, a division of Staffing 360 Solutions. Moraski will remain as president of PeopleSERVE.

“Staffing 360 prides itself on partnering with exceptionally strong management and Linda Moraski is, in our view, a superstar,” said Staffing 360 Vice Chairman and President A. J. Cervantes.

“The acquisition of PeopleSERVE is an integral part of our high-growth consolidation strategy,” said Brendan Flood, executive chairman of Staffing 360 Solutions. “Bolstering our focus on IT services is a key strategic initiative for our company. PeopleSERVE adds considerable depth to our operations in New England and complements our recent acquisitions of Cyber 360 Solutions and CSI.”

Staffing 360 Solutions launched in 2012 and is pursuing broad spectrum staffing companies in the IT, financial, accounting, healthcare and cybersecurity industries. The company reported revenue of $16.9 million in its fiscal third quarter ended Feb. 28, and its stated mission is to become a $300 million revenue business.