Deloitte takes 20 per cent stake in OSA

Deloitte Touche Tohmatsu has announced it has taken a 20 per cent stake in corporate services firm Outsource Australia (OSA).

In a statement relating to the announcement, the companies said OSA would be operated independently from Deloitte, but would "benefit from Deloitte's global corporate services expertise and the injection of capital which will allow it to maximise its enormous growth potential".

OSA's managing director, Graham Baillie, described it as a "strategic relationship", which would provide a "full suite of corporate services to rapidly expanding markets in Australia, New Zealand and Asia".

OSA cites revenues of $30 million for 1999/2000, and projected revenue in excess of $100 million for 2003/2004.

Deloitte plans to increase its stake in OSA from a 20 per cent holding to 50 per cent over three years.

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