Japanese recruitment firm En-Japan Inc. has acquired job site operator Brocante in a share exchange deal worth 600 million yen ($5.5 million U.S.). Brocante operates Freelance Start, one of the largest IT freelance recruitment platforms in Japan.
When the deal is finalized in March, Brocante will become a subsidiary of En-Japan. En-Japan will allot about 124,000 treasury shares of the company to Ryo Kasama, Brocante’s founder and CEO, and Kosuke Sone, its primary engineer. The per-share price was estimated at Y4,850 ($44.60 U.S.).
Tokyo-headquartered En-Japan owns and operates a variety of recruitment marketplaces and job tools. The group also owns Vietnamese staffing firm Navigos Group, which operates recruitment marketplace VietnamWorks.com.
En-Japan said it expects freelance work in the IT sector will continue to show substantial growth in coming years. “Making Brocante Inc. into our subsidiary will accelerate the speed of the growth of our business for freelancing,” it said in a news statement. “This will lead to improved profitability in this new business sector.”