Freelancer expands with Polish acquisition

Company News

Freelancer Limited (ASX:FLN) has ramped up its global expansion through the acquisition of Poland’s largest freelance market place, 
The online job outsourcer says the Polish site has more than 85,000 users and will be integrated into Freelancer’s website within days. 
While the financial terms of the transaction have not been disclosed the company says the purchase will be funded through existing cash reserves and is not expected to have a material impact on revenue this year. 
CEO Matt Barrie says the acquisition is part of the company’s strategy of creating a global marketplace where small business and freelancers can work together on any job, in any country, in any language at any time. 
Shares in Freelancer rose 3.38 per cent following the announcement to close at $1.68. 
Freelancer reported a net profit of $753,000 in the full 2013 financial year.