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RGP Buys Singapore Firm

Says CloudGo will help expansion in Asia

Resources Connection Inc. (Nasdaq: RGP), an Irvine-based provider of consulting services, said it acquired CloudGo Pte Ltd. to expand in Asia. Terms were undisclosed.

CloudGo, a consulting firm based in Singapore with nearly 80 employees, provides advise to customers on how to modernize their legacy applications and processes. CloudGo, which was founded in 2016, will be combined with RGP’s Veracity unit, which was acquired in 2019 as the company’s platform for its digital consulting business.

“We expect the addition of CloudGo will be an important accelerator to the growth of our global digital consulting business,” Chief Executive Kate Duchene said in a statement. “The team at CloudGo brings deep expertise and proven capabilities in solving their clients’ challenges with innovative approaches that recognize the unique needs of their businesses.”

RGP shares were unchanged in after-hours trading following the announcement. They declined less than 1% to $14.26 in regular trading and a $481 million market cap. The shares had hit their 52-week low of $13.08 on Oct. 25.

 

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Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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