Hudson Global Acquires Karani, LLC For Undisclosed Sum

Hudson Global Inc HSON has acquired Karani, LLC ("Karani"), a Chicago-headquartered recruiting services provider that serves mainly U.S.-based customers from its operations in India and the Philippines. Deal terms were not disclosed.
Karani partners with recruitment and staffing firms to assist with recruiting, sourcing, screening, onboarding, and other talent-related services across various industries. Karani has ~500 employees in India and 100 in the Philippines.
Hudson Global held cash and cash equivalents of $24.19 million as of June 30, 2021.
"The addition of Karani will enhance Hudson RPO's global delivery capability and open up opportunities to win new business in India and other new markets. As a combined company, we expect to expand Karani's offering beyond the U.S., leverage the capability of the Karani team for Hudson RPO projects and clients, penetrate the enterprise RPO markets in India and the Philippines and strengthen Hudson RPO's expertise in technology recruitment," commented Jeff Eberwein, Chief Executive Officer Hudson Global.
Price Action: HSON shares are trading lower by 0.24% at $16.66 on the last check Monday.