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Tuesday, 02 February 2016 13:18

Finite boosts top line by $50 million with NZ acquisition

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IT recruitment firm Finite has acquired leading New Zealand IT recruitment business, Ninetwenty, in a deal which adds NZ50 million to the Sydney-based company’s top line.

The acquisition includes 920's substantial contractor base, transferral of all staff across Auckland and Wellington, and numerous high profile 'preferred supplier agreements'.

Under the deal the 920 brand will be retained as part of the Finite Group.

Finite Managing Director, Tracy Thomson, said completion of the acquisition on 1 February has created one of New Zealand's largest specialist providers of contract and permanent technology staff to leading corporations and government departments, and enables the enlarged group to provide a broader range of service offerings to its extended client base.

Thomson said the purchase was "an excellent opportunity to acquire a highly regarded large national agency with a substantial contracting base, strong permanent capability and a very experienced and talented team.

“This elevates us to a top 3 IT specialist agency in both Australia and New Zealand. Looking ahead, this important acquisition provides a strong platform for future growth, both extending the Group's reach in NZ as well as offering added value services."

Thomson said Finite established its NZ business in 2014 and has already developed an “excellent reputation” within the Auckland market for sourcing and delivery of high quality technology, digital, project services and business transformation professionals.

“Combining this with the established and highly successful 920 business will produce revenues in excess of NZ$50m per annum.”

920 Founding Director Mark Chote said, “Blending our domestic capability with the expansive network and resources of the Finite group is the perfect response to our market conditions.

“Technology staffing is a global play and this is a really progressive step forward for our clients, contractors and most importantly our team."

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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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