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Peoplebank Acquires Ambit to Become Australia’s Largest IT&T Recruiter
Peoplebank Australia Limited (ASX: PBA), has announced plans to acquire Ambit for $100 million, which will make it the largest IT&T recruitment company in the country.
The equity raising is expected to be ratified at an extraordinary meeting of Peoplebank shareholders in late January. The combined company will have revenues of circa $500m for FY2008 with an EBITDA of $24 million on a consolidated pro-forma basis.