On Assignment Buys IT Staffer Apex Systems for $600 Million
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On Assignment Inc., the provider of temporary workers to technology and health-care companies, agreed to purchase information technology staffing firm Apex Systems Inc. for $600 million.
On Assignment, based in Calabasas, California, will acquire all of closely held Apex Systems’ equity for $383 million in cash and $217 million in new stock, according to a statement today. The transaction, expected to close in May, will almost double the size of the company and create the second-largest IT staffing firm in the U.S., On Assignment said.