Brainhunter Purchased by Zylog (Yeah, I'd never heard of them before, either.)

Here's the skinny:

Chennai-based technology integrator Zylog has announced the acquisition of Canadian IT consulting and engineering staffing services Brainhunter for C$35 million to expand its footprint in Canada.

The acquisition came through a bidding process for Brainhunter under the Canadian Creditors Arrangement Act in which Zylog put in the winning bid.

Brainhunter has a major presence in government, telecom, BFSI, and oil and pipeline verticals. The rationale and strategic fitment of this acquisition is given below.

Zylog will gain from Brainhunter's ready access to a large talent pool, its over 1400 contractors and more than 400 diversified customer base with extensive preferred vendor relationship and a ready technology platform.

Tha acquisition would enable the two Zylog the potential to save costs on account of offshoring of contracts, sourcing contractors from India for non government businesses and reduction in non-billable staff.

after [sic] the closure of the transaction, Zylog plans to delist Brainhunter.

I don't have any strong feelings about this one way or another, nor am I sufficiently versed in the operations of Brainhunter to pass any judgements on the purchase. However, if this is going to keep Brainhunter's staff employed, then I'm all for it.

At the time of posting, Brainhunter's web site made no mention of the purchase.