Vedior North America Acquires Canada's Leading IT STaffing Firm

Acquisition Bolsters Vedior NA's Position in the North American IT Staffing Industry

Wakefield, MA - Vedior North America announced that it has acquired a 93% interest in CNC Global Ltd, Canada's leading provider of IT recruitment and resource management solutions.

CNC Global works with organizations across Canada to meet their contract and full-time IT staffing needs. CNC Global also offers a full range of Recruitment Process Outsourcing (RPO) solutions, including contractor administration, payroll administration, vendor management, contact center staffing, recruitment advertising and HR communications. CNC Global maintains approximately 2,400 IT consultants on client sites across Canada and generated CAD256 million in audited revenue for the year ended January 31, 2006.

The acquisition of CNC Global strengthens Vedior NA's IT staffing presence, which currently exists through its Sapphire Technologies brand. The combined reach of Sapphire Technologies and CNC Global makes Vedior NA one of the largest providers of IT staffing services across North America.

"With the addition of CNC Global's Canadian capabilities to our already established IT staffing presence in the U.S., we are now able to expand our ability to meet our clients needs as the dominant IT staffing provider in North America," said Greg Netland, Chief Executive Officer of Vedior NA. "I'm very excited about CNC Global's strategic complement as well as the business opportunities that will result from this partnership."

"Having Vedior NA as our parent company creates excellent opportunities for our continued growth," said Terry Power, President and Chief Operating Officer of CNC Global. "The synergy between our two companies will enable us to respond to the global procurement strategies of our clients, while solidifying our position as Canada's premier IT staffing firm."

Moving forward, CNC Global will continue to operate under its existing management team with its existing name.

Robert W. Baird & Co. served as exclusive financial advisor to CNC Global Limited and it's majority share holder Torquest Partners Value Fund L.P.

SOURCE: Vedior North America