Outsourced staffing management services provider Comforce Corp. (CFS) said Tuesday that it has agreed to be bought by private equity firm ABRY Partners, LLC for about $84.8 million.
ABRY's offer of $2.50 per share represents a 54.3% premium to Comforce's Monday closing stock price of $1.62.
Comforce's Board of Directors has approved the deal and decided to recommend that the company's shareholders vote in favor of the merger. Certain directors, executive officers and shareholders of Comforce beneficially owning about 31.0% of the company's common stock have agreed to vote in favor of the merger agreement and otherwise to support the deal.
The deal is expected to close in the fourth quarter of 2010.
In August, Comforce reported a more than three-fold jump in its second quarter profit, as revenue increased 15%.
ABRY focuses solely on media, communications, business and information services investments. Since 1989, ABRY Partners has completed over $21 billion of leveraged deals and other private equity and mezzanine investments, representing investments in approximately 450 properties.
Comforce shares are currently trading at $2.46, up 85 cents or 52.17%.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.