Hiremii Limited (ASX: HMI), a technology-driven full-service recruitment company offering a range of talent acquisition and placement services powered by its AI-driven platform, has announced a binding agreement to acquire 100% of Prince Migration & Education Pty (Ltd). Prince Migration is a profitable migration services company based in Melbourne with strong ties to Asia and a corporate client base focused on financial services and education. The acquisition, subject to customary conditions precedent, is expected to complete in July 2025.
The acquisition provides Hiremii with a strategic expansion into the East Coast of Australia, access to talent in Asia, and diversified revenue streams. Prince Migration will benefit from Hiremii’s scale, AI platform, and marketing capabilities, fostering earnings growth in the migration industry. Key benefits include Prince Migration’s expertise in skilled migration and a complementary client base that offers cross-selling opportunities.
The total consideration for the acquisition includes shares and performance rights. Specifically, Hiremii will issue shares equivalent to $200,000 (approximately 4,219,409 shares), Class A performance rights linked to Prince Migration achieving $115,000 EBIT for the year ending 30 June 2026 (approximately 3,164,557 rights), 1,875,000 Class B performance rights tied to $340,000 EBIT for the year ending 30 June 2027, and 1,500,000 Class C performance rights contingent on $600,000 EBIT for the year ending 30 June 2028. These shares and performance rights will be issued under the company’s existing Listing Rule 7.1 capacity.
Andrew Hornby, Managing Director of Hiremii, expressed enthusiasm about the acquisition, highlighting its significance in strengthening capabilities and enhancing support for clients seeking flexible visa and migration solutions. Leon Gao of Prince Migration also shared his excitement, noting the opportunity to scale existing services and expand offerings through Hiremii’s technology. Gao will continue as the executive director of Prince Migration.
