On Assignment Closes Acquisition Of CyberCoders Holdings Inc. - Quick Facts

(RTTNews) - On Assignment, Inc. (ASGN) announced that it has completed the acquisition of CyberCoders Holdings, Inc., a leading technology-enabled national permanent placement recruiting firm.

This closing follows the execution of the Stock Purchase Agreement between the parties on November 25, 2013 which was previously announced on Monday, December 2, 2013.

Under terms of the Agreement, On Assignment acquired CyberCoders for $94 million in cash and up to an additional $11 million based on future operating performance. The purchase price was funded out of cash on hand and borrowings under the Company's revolving credit facility.

The company said CyberCoders will become a division of On Assignment and continue to operate under the CyberCoders brand name.