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Green Planet buys two staffing firms

March 08, 2010

Green Planet Inc. (OTCBB: GNPG.OB) acquired two staffing firms -- Staffing Concepts Corp. and Provincia Staffing.

Staffing Concepts, based in Florida, provides industrial staffing. Provincia Staffing, based in Phoenix, provides industrial staffing and professional staffing including information technology staffing.

Both Staffing Concepts and Provincia will become subsidiaries of Green Planet's staffing division, Lumea.

Green Planet reported it acquired the two firms for $315,000 in cash, notes and restricted common stock. Green Planet said the acquisitions will increase its annual revenue by approximately $5 million.

Green Planet's Lumea staffing division posted revenue of $5.8 million in its last fiscal year ended March 31, 2009, according to a filing with the U.S. Securities and Exchange Commission.