How One Executive Recruitment Firm Is Using M&A to Turn Earnings Into Bitcoin

Bitcoin Magazine How One Executive Recruitment Firm Is Using M&A to Turn Earnings Into Bitcoin Connecting Excellence Group (XCE) has signed binding Heads of Terms for its first proposed recruitment acquisition, targeting a specialist UK and U.S.

recruitment business that generated £1.79 million in revenue and £431,000 in EBITDA over the last 12 months. The target also holds 8.216 Bitcoin. The deal has not yet closed and remains subject to further due diligence, funding and a definitive purchase agreement.

[Read XCE’s full announcement.] Beyond the headline, the structure of the deal offers an interesting look at how an operating company can use M&A as part of a broader Bitcoin strategy.

XCE (AQSE: XCE | OTCQB: XCELF) wants to acquire profitable recruitment businesses, retain much of the earnings they generate, and expand the pool of internally generated capital available for growth and Bitcoin. There is also a notable symmetry between buyer and target.