TSR Inc (TSRI) Stock Is Headed For The Top On Acquisition News

TSR Inc TSRI Stock News

TSR Inc (NASDAQ: TSRI) is running for the top in the market this morning, gaining more than 20% before the bell. The gains come after the company announced acquisition news. Here’s what’s going on:

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TSRI Stock Heads Up On Acquisition News

In the press release, TSR announced that it has acquired Geneva Consulting Group. Geneva Consulting isa provider of both temporary and permanent information technology personnel.

In a statement, Thomas Salerno, CEO at TSRI, had the following to offer: Geneva has been a well-respected, top tier firm in the staffing industry since 1997 and we look forward to welcoming their highly skilled team to our family. We will seamlessly continue to provide exceptional service to their clients and offer them additional services to further support their staffing needs.

We believe this acquisition fits very well with TSR’s new Board of Directors’ overall strategic vision of accelerating growth and improving returns for shareholders.

The above statement was followed up by Laura Torrillo, President at Geneva. Here’s what she had to offer:

Our family has had the wonderful opportunity of building Geneva and we believe that the time is right to make this transition. Thomas and his team share our values and we believe our employees, consultants and clients will reach even greater heights with the additional resources available from TSR.

This Is Big News

The news released by TSR this morning is great for the company and its investors. The acquisition of Geneva Consulting brings three key things. First and foremost is the personnel. The most valuable thing in any business is a strong team, and Geneva has a proven track record driven by this team.

Moreover TSRI is also getting the company’s entire book of customers. Keep in mind Geneva Consulting has been in business for years and has a rolodex to match.

Finally, the company will enjoy an entirely new revenue stream. This will take place through the products and services offered by Geneva that will now be brought in house.

All in all, this transaction is great for the company and those that own TSRI stock.

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