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ASET acquired by COMSYS July 2, 2008

Posted by Jill (@bonnjill) in Business practices, Translation Sites.
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Ted Wozniak just posted this on the Payment Practices list:

COMSYS IT PARTNERS EXPANDS GLOBALIZATION PRACTICE WITH ACQUISITION OF ASET INTERNATIONAL SERVICES CORPORATION
HOUSTON, TX (01 July 2008 ) –
COMSYS IT Partners, Inc. (NASDAQ:CITP) today announced the acquisition of ASET International Services Corporation, a leading Arlington, Virginia-based provider of globalization, localization and interactive language services, including: translation, multilingual publishing, audio/video production, and simultaneous interpretation and conferencing for live events in over 140 languages. Terms of the acquisition were not disclosed, but COMSYS expects it to be accretive to earnings in 2008.
“ASET International has developed a strong practice in the globalization and localization industry, serving both the commercial and public sector, and will enable our existing globalization practice to substantially expand its reach,” commented COMSYS CEO Larry L. Enterline. “With former owners Erika Nobel Hendzel and Kevin Hendzel and their team staying with COMSYS to help us run this business, we are excited about our prospects in this sector, which is currently growing at faster rates than traditional IT staffing. ASET’s multilingual services are a great complement to our existing services in this sector and our current customers should benefit greatly.””
About COMSYS IT Partners
COMSYS IT Partners, Inc. (NASDAQ: CITP) is a leading IT services company with 52 offices across the U.S. and offices in Puerto Rico, Canada and the U.K. COMSYS service offerings include contingent and direct hire placement of IT professionals as well as a wide range of technical services and solutions addressing requirements across the enterprise. The COMSYS TAPFIN Process Solutions Group delivers critical management solutions across the resource spectrum from contingent workers to outsourced services.

I find this particularly interesting, because both companies are my clients. COMSYS is one of my oldest clients. They don’t send me a lot of frequent work, but I have been working with them since 2001 and have lasted through three name changes. They have always had really good payment terms (depending on the job, some jobs are paid in two weeks, some in 30 days), so hopefully this will translate to better payment terms for ASET and I will actually consider working with them (ASET) again. Time will tell…

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