The combination of these two great organizations is exciting for us and very positive for all of the stakeholders' of both companies," Enterline continued. "This is a great opportunity for us to leverage our demonstrated expertise and strong market presence with Manpower's global leadership in the employment services industry. This acquisition creates value for COMSYS' shareholders, compelling opportunities for employees and offers superior value for clients, according to Larry Enterline, Chief Executive Officer, COMSYS. The strong alignment of our services and cultures positions us well for a rapid and successful integration." "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. "Manpower and COMSYS have very similar cultures, focused on a client-first and consultant-first mindset and values," said Jonas Prising, Manpower Inc. At the same time, individuals will exercise more choice in their job search, forcing businesses to find innovative ways to attract and retain key people. In tomorrow's economy, the decline of the working age population will only increase the competition for qualified candidates. Over the next decade, talent will emerge as a company's competitive differentiator.
#MANPOWER PROFESSIONNAL PROFESSIONAL#
The culture, expertise, client and consultant base that COMSYS brings to our suite of services, when combined with Manpower Professional and Manpower Business Solutions, accelerates us to being a global leader in the US and around the world."Īs companies continue to experience tremendous pressure to do more with less in achieving their business strategy, the same will hold true for their talent strategy, and the future talent that they seek to bring on. We grow our capabilities organically and acquire companies for the combination of financial gain, and strategic and cultural fit for our organization.
"Our strategy is an outside-in approach, focusing on services that deliver value to our clients and candidates.
#MANPOWER PROFESSIONNAL FULL#
Manpower will also integrate COMSYS' MSP and RPO offerings into its world-leading Manpower Business Solutions to strengthen the company's global, industry-leading offering to deliver clients with full employment life cycle and outcome-based solutions. "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."ĬOMSYS is a leading provider of professional IT staffing services, Managed Service Program (MSP) and Recruitment Process Outsourcing (RPO) offerings. "The acquisition of COMSYS is consistent with our strategy and strengthens the continued expansion of our professional staffing services and outcome-based solutions," said Jeff Joerres, Manpower Inc. With 4,000 offices around the globe, the addition of COMSYS increases Manpower's professional staffing services geographic footprint to more than 400 offices worldwide. The combined entities increase Manpower's professional consultants on assignment to over 25,000. COMSYS' professional IT staffing services will be integrated into the Manpower Professional offering, and when combined with Elan, Manpower's European IT staffing business, creates an entity with total revenues of more than $2.5 billion. Subject to the terms of the agreement, the value of the consideration for each outstanding share of COMSYS common stock would be $17.65, for a total enterprise value of $431 million, including net debt assumed by Manpower. The agreement has been approved by the boards of directors of both companies. (Nasdaq: CITP), a leading professional staffing firm.
(NYSE: MAN), a world leader in the employment services industry, announced today it has entered into an agreement to acquire COMSYS IT Partners, Inc.
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