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Defence ICT company Insitec has acquired technology recruitment firm The Network as part of a contract valued at $26.5 million.
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According to Insitec, it is hoped that the acquisition will ensure a supply of talent to support the company’s deliverables to the Australian Defence Force (ADF).
Michael Branch, founder and managing director of Insitec, explained that the acquisition would mitigate the threat of an overseas talent drain in the sector.
“This acquisition gives us a platform to meet the needs of the Australian Defence Force and makes it possible for us to bring new talent into the defence sector,” Branch said.
“Over the next five years, we anticipate an extra 1,000 plus people will be needed to support the ICT needs of the Australian Defence Force.
“Rather than stripping one project to support another, The Network give us access to skilled people who are currently inside and outside of the sector and, in turn, we give them access to dynamic new career opportunities in the Defence sector.
“Insitec has worked closely with the Australian Defence Force for more than two decades so we deeply understand the pressures on the sector. As an Australian owned and operated company, and trusted partner of the ADF, we are proud to be helping to build Australia’s strategic and tactical advantage.”
The acquisition shortly follows the renewal of Insitec’s $43.5 million contract with the Department of Defence’s Chief Information Officer Group (CIOG) Service Management Branch (SMB) for technical and professional services.
According to Martin Sharman, director of The Network, the entity will continue to operate under their existing brand and support their clientele.
“Our focus has always been to connect the right people, with the right opportunity at the right time, and our relationship with Insitec creates an exciting opportunity for us to extend further into the Defence sector,” he said.
“Insitec has the reputation, industry relationships and capital backing to enable us to grow and achieve our full potential as a specialist recruiter for the high-worth technology sector.
“The companies are closely aligned in values and approach, so we are very positive about the future together.”
[Related: Insitec lands $43.5m contract extension]
