Good evening,

Hudson Asia Pacific Group, one of the largest human resources firms in the region, is ready to jettison its talent technology platform and has called in Record Point’s bankers to help it find a buyer.

Street Talk can reveal UpperGround, a talent-focused technology platform that is used by the likes of Commonwealth Bank and Fortescue, is being shopped to prospective bidders. An eight-page flyer, dubbed Project Everest, is now in front of investors and non-binding indicative bids are expected to be called in the coming weeks.

UpperGround made $235 million in revenue last year, which boiled down to $6.3 million in earnings before interest, taxes, depreciation, and amortisation.

The sell-side pitch said the recruitment and human resources market is undergoing a generational shift, with tech-enabled temporary staffing solutions gaining popularity.

UpperGround is heading to the auction block, as technology dealmaking begins to pick up after lying low during a period of interest rate increases. Also on the auction block is Melbourne-born HR software business PageUp.

As for Record Point, it’s had a cracker start to the year, given – as Street Talk reported only on Thursday – that it is also mandated on Snap Fitness, one of the world’s largest gym operators, which is on the market.

Read the full story tomorrow and more on the Street Talk page.

• Fletcher Building picks sell-side adviser for Tradelink.
• Tasmania’s ABEL Energy, backed by Iberdrola, preps raise for $1.7 billion green fuels project.
• Rakon board sits on offer from $25 billion wireless chipmaker.

• BlueScope weighing a tilt at South32’s Illawarra coal mines to pre-empt its $2.5 billion sale to Golden Energy and Resources.
• Public Hospitality Group’s Jon Adgemis in a financial dispute over his grandmother’s estate.
• Ramsay shows belts are tightening on new investments.

Fletcher Building tumbled to a $NZ120 million net loss, thanks to the Tradelink impairment and a fresh $NZ165 million write-down on the New Zealand International Convention Centre project in Auckland. There was also a $NZ15 million provision for remediation at a Wellington Airport car park.

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