Defence ICT company Insitec has signed a $26.5 million deal to acquire technology recruitment specialists The Network.
Insitec says the arrangement is key to ensuring a steady supply of skilled talent to support the company’s growth as a software and systems provider to the Australian Department of Defence.
Insitec Founder and Managing Director Michael Branch explained acquiring The Network would give local ICT professionals the opportunity to build skill and experience on defence projects and discourage the talent drain overseas.
“This acquisition gives us a platform to meet the needs of the Australian Defence Force and makes it possible for us to bring new talent into the defence sector,” Branch said.
“Over the next five years, we anticipate an extra 1000 plus people will be needed to support the ICT needs of the Australian Defence Force.
“Rather than stripping one project to support another, The Network give us access to skilled people who are currently inside and outside of the sector and, in turn, we give them access to dynamic new career opportunities in the Defence sector."
The Network is a recruitment agency that specialises in sourcing hard-to-reach talent to work with emerging technologies across digital, software & application development, cloud, IT security and data & analytics. Founded in 2013, the agency employs 20 staff from offices in Sydney and Canberra, with more than 100 IT professionals under contract, many of whom have top level government security clearance.
The Network’s Director Martin Sharman said the company would continue to operate under The Network brand and was committed to supporting its existing clients and consultants.
“Our focus has always been to connect the right people, with the right opportunity at the right time, and our relationship with Insitec creates an exciting opportunity for us to extend further into the Defence sector,” he said.
“Insitec has the reputation, industry relationships and capital backing to enable us to grow and achieve our full potential as a specialist recruiter for the high-worth technology sector.
“The companies are closely aligned in values and approach, so we are very positive about the future together.”
This acquisition closely follows renewal of Insitec’s $43.5 million contract as technical and professional services provider to the Department of Defence’s Chief Information Officer Group (CIOG) Service Management Branch (SMB).