HR Software Company to Acquire Recruitment Process Outsourcing Company
One popular HR software (Click here) company will soon acquire an up-and-coming recruitment process outsourcing (Click here) company.
Manpower Inc., a leader in the employment services industry, recently announced that it will acquire COMSYS IT Partners, Inc., a professional staffing firm. The deal is valued at $431 million, including $17.65 for each outstanding share of COMSYS common stock and net debt assumed by Manpower.
COMSYS’ professional IT staffing services will be integrated with Manpower Professional and combined with Elan, Manpower’s European IT staffing business. Those moves will create an entity with total revenues of more than $2.5 billion. The number of professional consultants on assignment with Manpower will increase to more than 25,000.
“The acquisition of COMSYS is consistent with our strategy and strengthens the continued expansion of our professional staffing services and outcome-based solutions,” Jeff Joerres, Chairman and CEO of Manpower Inc., said. “Both are areas where we have significantly grown organically over the past few years, driven by our strategy to provide clients with all the talent they need, particularly in the high demand skill verticals of IT, engineering, finance and accounting.”
Manpower also plans to integrate COMSYS’ managed service program and recruitment process outsourcing into its Manpower Business Solutions. This will strengthen the company’s offering to deliver clients with full-employment life cycle and outcome-based solutions.
“Manpower and COMSYS have very similar cultures, focused on a client-first and consultant-first mindset and values,” Jonas Prising, president of the Americas for Manpower Inc., said. “Joining our trusted brands and services, combined with our ability to deliver a unique experience to clients and candidates, will address the market’s needs from both a scale and capabilities perspective. The strong alignment of our services and cultures positions us well for a rapid and successful integration.”
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