Yes it could be a way to essentially recruit a bunch of people. Despite supposedly still being a meaningful agency business the fact it isn't moving guidance says a lot. I agree acquiring a whole business has risks around intergration, namely culture. On the plus side, this doesn't have the hallmarks of terrible M&A. Namely being very large purchases, in other juristictions outside, new business lines and/or using debt. CCP basically just buying a broke business with some employees and a few existing relationships for very little relative to npat. Is 11m a good deal? Apparently there were a few parties hanging around the corpse...
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