Hudson Global, Inc. (NASDAQ:HSON) Q4 2022 Earnings Call Transcript

Jeff Eberwein : Sure. So acquisitions are a tricky thing because it takes a willing buyer and a willing seller, and so our approach is to always be in the market, always looking. We learn a lot from that approach, from just being in the market and meeting with different companies and listening to their business model and how they approach the market. And the acquisitions we’ve done have really come from it just being the right place at the right time a really good fit, and we had a vision where one plus one equals three, where we could do that acquisition, and we were the natural owner, and we could really help accelerate their growth. That’s really the key to it. So it’s much more bottom up than some macroeconomic view or trying to predict what the market’s going to do or what the economy is going to do or what hiring volumes are going to do.

In terms of the India acquisition we made last year, that was a very, very small acquisition. We do think we got it at an attractive valuation based on their historic results. They have been impacted by the slowdown in hiring in the tech sector. But they have a very strong list of clients that they do business with, both in the past and currently, and we are winning new business in India. So it’s really a very, very small acquisition, but it positions us very well for what we think will be a great place to be for decades to come. So historically, we haven’t had any offering in India. We’ve had employees in India, but they are serving U.S. clients, and with that acquisition we now have an offering in India, and our strategy is to work. This is similar to what, to our strategy in China were, where we’re working for European, U.S., UK, multinationals who have big operations in India.

Unidentified Participant: Thank you very much for all that.

Jeff Eberwein : Sure.

Operator: That concludes today’s question-and-answer session. I would now like to turn the call over to Jeff Eberwein for closing remarks.

Jeff Eberwein: All good questions, thank you very much. Thanks for joining us today. Thanks for your interest in Hudson Global. Feel free to contact us anytime using the contact information and our press release or on our Investor Relations website and we look forward to updating you on next quarter’s call. Have a great day!

Operator: Thank you for joining Hudson Global fourth quarter conference call. Today’s call has been recorded and will be available on the Investors Section of our website hudsonrpo.com.