Adecco to Buy Japanese Staffing Firm »
[The Telegraph] The Switzerland-based firm said the acquisition of VSN would double its exposure to professional hiring services in the world’s second-largest staffing market. Professional staffing today represents 9pc of Adecco’s total revenues in Japan.
Tokyo-based VSN generated revenues of €157m (£131m) in 2010 and is focused on engineering.
The deal, which is being financed through existing cash, is set to close within the first quarter of 2012.
Vontobel analyst Michael Foeth said: “The deal makes sense from a strategic point of view and will add some 11 to 12pc to Adecco Japan revenues, but less than 1pc to group sales.”
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By Tim Spagnola
Recruit Smarter
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