Kforce Acquires The Talent Bank for $50M

TL;DR

Kforce buying The Talent Bank for $50M, closing Q1 2025.

AI Summary

Kforce Inc. announced on December 12, 2024, that it has entered into a definitive agreement to acquire The Talent Bank, a provider of specialized talent solutions. The acquisition is expected to close in the first quarter of 2025 and is valued at approximately $50 million.

Why It Matters

This acquisition by Kforce Inc. is expected to expand its service offerings and market reach in specialized talent solutions, potentially leading to increased revenue and competitive positioning.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks related to integration, market reception, and achieving projected synergies.

Key Numbers

• $50 million — Acquisition Price (The total value of the deal to acquire The Talent Bank.)
• Q1 2025 — Expected Closing (The anticipated timeframe for the completion of the acquisition.)

Key Players & Entities

• Kforce Inc. (company) — Acquiring company
• The Talent Bank (company) — Acquired company
• $50 million (dollar_amount) — Acquisition price
• December 12, 2024 (date) — Date of agreement
• first quarter of 2025 (date) — Expected closing period

FAQ

From the Filing

0000930420-24-000236.txt : 20241216 0000930420-24-000236.hdr.sgml : 20241216 20241216160812 ACCESSION NUMBER: 0000930420-24-000236 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20241212 ITEM INFORMATION: Other Events FILED AS OF DATE: 20241216 DATE AS OF CHANGE: 20241216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KFORCE INC CENTRAL INDEX KEY: 0000930420 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HELP SUPPLY SERVICES [7363] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 593264661 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-42104 FILM NUMBER: 241551862 BUSINESS ADDRESS: STREET 1: 1150 ASSEMBLY DRIVE STREET 2: SUITE 500 CITY: TAMPA STATE: FL ZIP: 33607 BUSINESS PHONE: 8135525000 MAIL ADDRESS: STREET 1: 8405 BENJAMIN ROAD STREET 2: SUITE G CITY: TAMPA STATE: FL ZIP: 33634 FORMER COMPANY: FORMER CONFORMED NAME: KFORCE INC DATE OF NAME CHANGE: 20000517 FORMER COMPANY: FORMER CONFORMED NAME: ROMAC INTERNATIONAL INC DATE OF NAME CHANGE: 19950502 8-K 1 kfrc-20241212.htm FORM 8-K kfrc-20241212 false 0000930420 0000930420 2024-12-12 2024-12-12 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   ___________________________________________  FORM 8-K  ___________________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 12, 2024   _________________________________________________________________   Kforce Inc . Exact name of registrant as specified in its charter _______________________________________________________________     Florida 001-42104 59-3264661 State or other jurisdiction of incorporation Commission File Number IRS Employer Identification No. 1150 Assembly Drive, Suite 500 , Tampa , Florida 33607 Address of principal executive offices Zip Code Registrant’s telephone number, including area code: ( 813 )  552-5000   N/A ______________________________________________________ (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share KFRC New York Stock Exchange Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ Item 8.01 Other Events. On December 12, 2024, Kforce Inc. ("the Firm") entered into a corporate stock trading plan (the “Plan”) for the purpose of repurchasing the Firm's outstanding common stock in accordance with the share repurchase program authorized by the Firm’s Board of Directors. The Plan is in accordance with the guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The Plan allows the Firm to repurchase shares c