Impellam acquires London-based flexible staffing platform Flexy

Staffing business Impellam agreed to acquire London-based flexible staffing platform Flexy for an initial payment of roughly £3m on Tuesday.

Impellam will pay for the group up front in cash and noted that additional consideration may be payable to the vendors of Flexy, subject to achievement of future performance conditions.

Flexy, which provides data-driven analysis to provide insights and consumer-grade digital experiences, generated revenues of £626,000 in the year ended 30 April and has achieved a compound annual growth rate of 175% over the past two years.

Chief executive Julia Robertson said: "The strategic partnership with Flexy combines digital capabilities and technologies with our current portfolio's deep heritage and expertise; to offer new solutions, more choice, and better, technology-led experiences for customers and candidates alike".

As of 1045 BST, Impellam shares dipped 0.22% to 456p.