Defense ICT company Insitec has signed a $26.5 million deal to acquire technology recruitment specialists The Network.
Insitec says the arrangement is essential to ensure a steady supply of skilled talent to support the company’s growth as a software and systems provider to the Australian Department of Defence.
Insitec Founder and Managing Director Michael Branch explained that acquiring The Network would give local ICT professionals the opportunity to gain skills and experience on defense projects and discourage flight talents abroad.
“This acquisition gives us a platform to meet the needs of the Australian Defense Force and allows us to bring new talent to the defense industry,” Branch said.
“Over the next five years, we anticipate that over 1,000 additional personnel will be required to meet the ICT needs of the Australian Defense Force.
“Rather than stripping one project to support another, The Network gives us access to qualified people who are currently inside and outside the industry and, in turn, we give them access to new opportunities for dynamic careers in the defense sector.”
The Network is a recruitment agency specializing in finding hard-to-reach talent to work with emerging technologies in digital, software and application development, cloud, IT security, data and technology. ‘to analyse. Founded in 2013, the agency employs 20 people in offices in Sydney and Canberra, with more than 100 contracted IT professionals, many of whom have high-level government security clearances.
Network director Martin Sharman said the company would continue to operate under The Network brand and was committed to supporting its existing clients and consultants.
“Our goal 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 expand further into the defense industry,” he said.
“Insitec has the reputation, industry relationships and capital support to enable us to grow and reach our full potential as a specialist recruiter for the high-value technology sector.
“The companies’ values and approach are closely aligned, so we are very positive about the future together.”
This acquisition comes on the heels of the renewal of Insitec’s $43.5 million contract as technical and professional services provider to the Service Management Branch (SMB) of the Chief Information Officer Group ( CIOG) of the Ministry of Defence.