Brainhunter Inc.

Brainhunter Inc.

May 05, 2009 14:58 ET

Brainhunter Renews Managed Staffing Contract Valued at Approximately $5 Million Per Annum

TORONTO, ONTARIO--(Marketwire - May 5, 2009) -


Brainhunter Inc. ("Brainhunter" or the "Company") (TSX:BH) is pleased to announce that it has reached an agreement to renew a managed services contract with a global client. The contract is valued at approximately $5 Million per annum and has been renewed for a period of three years with an option for a further two years.

Managed staffing involves a client's outsourcing of a particular business process within a division to Brainhunter, including a full range of HR functions. Unlike the contingent nature of contract staffing, where staffing services are provided only upon the client's request, the Company proactively fills the positions of a client's division under managed staffing. Acting as an extension of the client's HR operation and as a form of Business Process Outsourcing ("BPO"), Brainhunter manages the full recruitment process and various HR functions, including candidate selection, the ongoing administration of contractors such as payroll and timesheet management, as well as terminations or restructuring. In addition, the Company has created software tools and applications that assist its clients in evaluating and managing their divisional performances.

Launched in 2006, Brainhunter's managed staffing solutions comprise a high growth strategic business for the Company. The focus is on the following areas:

- Systems maintenance and administration

- IT infrastructure management

- Managed sales support

- On-site management of IT teams

- Data centre monitoring, infrastructure support

- Managed application support

- 24/7 on-call support for critical needs

Brainhunter's consolidated backlog, including expected renewals of existing business over the period ending fiscal year 2010 (September 30), is approximately $327 Million. Of this amount, approximately $100 Million is deliverable for the fiscal year ending September, 2009.

Brainhunter's clients include over 350 active accounts and over 100 preferred vendor relationships with national and global entities.

Business Overview

Brainhunter is an ISO9001:2000 Certified "Staffing Services and Solutions" Company. Brainhunter's business is focused on using a leading technology platform to provide end to end recruiting and staffing services and solutions in information technology, engineering and other selected market sectors. These services are provided to clients throughout Canada, United States, and globally under the Brand "Brainhunter".

Brainhunter's technology platform and best practices strive to deliver the most cost effective and flexible recruiting and staffing services and solutions in the marketplace today. The solutions are modular in nature and customizable to suit both small and large scale business processes. Brainhunter has over 350 active client relationships including a number of North America's leading corporations and over 30 federal and provincial government groups. Brainhunter's Jobseeker database currently holds in excess of 1.2 million professionals and is one of the largest active databases for professional staffing in North America.

Brainhunter is a publicly traded company with a senior listing on the Toronto Stock Exchange. Brainhunter deploys over 1600 consultants and has an internal staff of over 200 personnel. The Company has delivery capability across Canada (including Toronto, Ottawa, Maritimes, Montreal, Calgary, Vancouver), and in the United States, activities in Dalian China, and an office in Hyderabad India, and the UK.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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