Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
Peoplebank Australia Limited's general meeting of shareholders this morning made official the Ambit acquisition as announced in December 2007. As a result Peoplebank is now easily the largest technology recruiter in Australia.
Leon Lau, Peoplebank's Managing Director, told
shareholders that the Board had been working towards the Ambit
acquisition for 12 months. Lau claimed that with the integration of the
two businesses, Peoplebank has a leadership team unparalleled within
the recruitment industry, with over 3500 contractors and a database of
over 200,000 candidates.
Lau highlighted the importance of the database in a skills-short market
in which candidates do not apply as readily to job advertisements.
Peoplebank's database is an essential tool to network amongst
Australia's top IT&T professionals, he said. Peoplebank has
developed several talent pools of highly sought-after IT&T
professionals and with the additional Ambit candidates, these talent
pools have grown significantly, according to the company.
Peoplebank's market capitalisation is now over $100 million. According
to the company, this may mean a re-rating for Peoplebank's trading
multiple, allowing for a broader category of potential investors to
invest in Peoplebank shares.
The meeting concluded with Mr Lau announcing Peoplebank's integration
of the two businesses, "Project Oneteam", that commenced planning in
early January. This plan will now be implemented. Project Oneteam
covers Peoplebank's entire business and aims for a smooth transition of
both companies' staff, clients, contractors and candidates.
David Bass
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