Protiviti, a wholly-owned subsidiary of Robert Half International Inc. ( RHI ) has announced its decision to purchase the assets of privately-held SusQtech Inc. to meet the growing demand for skilled workforce as well as provide its key clients with software consulting services.
A global consulting firm, Protiviti helps companies solve problems in finance, technology, operations, governance, risk and internal audit. By combining SusQtech's consulting services, Protiviti is expected to boost its Microsoft technology-based services. Further, SusQtech's customer support services will help Protiviti to expand its IT consulting portfolio, which provides a wide range of software services.
Protiviti will retain the SusQtech team, which is expected to provide Protiviti with knowledge base in SharePoint, ASP.NET, and Microsoft's ERP and CRM applications. The SharePoint initiative helps companies to streamline work, increase efficiency and boost productivity.
Protiviti's parent company Robert Half delivered better-than-expected third quarter earnings in October, 2012. The results were driven by top-line and solid operating income growth. Moreover, the company continues to benefit from strong demand for skilled workforce and consulting services.
We believe that the demand for the company's services, in particular its staffing services, is highly dependent on the state of the economy and the staffing needs of the company's clients. A gradual improvement in economic conditions and in job markets in the U.S. has led to the rise in the demand for the company's specialized staffing and consulting services. Moreover, the company is expected to benefit from higher demand for financial services professionals post the financial crisis. Robert Half carries a Zacks #2 Rank (short term Buy rating). Close peer Manpower, Inc. ( MAN ) carries a Zacks #3 Rank (short term Hold rating).
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