secwatch.observer — SEC 8-K summary
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Issuer:     BGSF, INC. (BGSF)
CIK:        0001474903
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001474903-23-000042
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BGSF completes $8M acquisition of Arroyo Consulting; adds 300+ IT professionals in Colombia and India
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- Purchase price $8.0M; $6.8M cash at closing, $350K and $850K in holdbacks.
- Earn-out up to $8.5M over two years subject to performance targets.
- Arroyo had unaudited FY2022 revenue of $16.2M.
- Adds nearshore/offshore IT consulting in Colombia and India with over 300 skilled professionals.
- CEO Beth Garvey: acquisition responds to customer demand for offshore/nearshore solutions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1474903/000147490323000042/0001474903-23-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1474903/000147490323000042/bgsf-20230424.htm
  HTML page:      https://secwatch.observer/filing/0001474903-23-000042

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