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    ADEN   CH0012138605

ADECCO GROUP AG

(ADEN)
  Report
Real-time Estimate Cboe Europe  -  03:00:00 2023-01-30 am EST
34.03 CHF   -0.21%
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THE ADECCO GROUP ANNOUNCES ACQUISITION OF VETTERY

02/20/2018 | 01:05am EST

THE ADECCO GROUP ANNOUNCES ACQUISITION OF VETTERY

Acquisition accelerates the Adecco Group's expansion into the attractive digital permanent recruitment market

Zurich, Switzerland, 20 February 2018: the Adecco Group, the world's leading HR solutions partner, today announces the acquisition of Vettery, a digital professional permanent recruitment marketplace. The acquisition strengthens the Adecco Group's Professional Staffing & Solutions business and complements its growing suite of digital HR platforms, following the launch of Adia and YOSS in 2017.

Vettery's online recruitment platform connects over 4,000 top employers with highly-qualified, well-suited candidates across the IT, sales and finance verticals. Its machine learning algorithms are applied to identify in-demand talent to bring onto the platform, analyse clients' existing hiring activity and recommend appropriate candidates. This technology helps reduce time-to-hire and improves the quality of matches, enhancing the recruiting experience for both candidates and employers. Launched in 2014, Vettery has rapidly expanded from its New York base and now operates in seven major US metropolitan areas. As part of the Adecco Group, Vettery will accelerate its expansion, including into international markets, leveraging the Group's extensive domain knowledge, data and client relationships. Co-founders Brett Adcock and Adam Goldstein will continue to lead the business within the Adecco Group, reporting to John Marshall, Regional Head of North America, UK & Ireland - Professional Staffing.

"The acquisition of Vettery accelerates the development of the Adecco Group's digital strategy, broadening our offering into the fast-growing digital permanent recruitment market and complementing our professional recruitment businesses," said Alain Dehaze, CEO of the Adecco Group. "Digital innovations have the potential to transform the recruitment industry and the Adecco Group is taking the lead. Vettery has developed impressive proprietary technology and already established a strong reputation amongst candidates and employers. Unified by a shared vision for transforming the future world of work, we are excited to welcome Vettery's experienced team to the Adecco Group."

"Technology is reshaping the delivery of permanent recruitment solutions, with artificial intelligence-enabled, curated digital marketplaces offering a better experience at a lower cost," commented Adam Goldstein, cofounder of Vettery. "Our growing portfolio of blue-chip and start-up clients values the shorter time-to-hire, improved transparency and greater flexibility achieved when hiring through our platform, while candidates appreciate the ease-of-use and access to top-tier employers." Co-founder Brett Adcock said: "The Adecco Group, with its clear commitment to digital transformation, is a natural strategic partner for us. Leveraging Adecco's extensive enterprise client relationships, data and recruitment industry expertise will allow Vettery to further accelerate its growth and rapid expansion."

Terms of the transaction have not been disclosed.




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Analyst Recommendations on ADECCO GROUP AG
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Financials
Sales 2022 23 178 M 25 161 M 25 161 M
Net income 2022 411 M 446 M 446 M
Net Debt 2022 2 296 M 2 492 M 2 492 M
P/E ratio 2022 13,5x
Yield 2022 7,27%
Capitalization 5 630 M 6 112 M 6 112 M
EV / Sales 2022 0,34x
EV / Sales 2023 0,34x
Nbr of Employees 39 216
Free-Float 93,6%
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Technical analysis trends ADECCO GROUP AG
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 34,11 €
Average target price 37,88 €
Spread / Average Target 11,1%
EPS Revisions
Managers and Directors
Denis Machuel Chief Executive Officer
Coram Williams Chief Financial Officer
Jean-Christophe Deslarzes Chairman
Ralf Weissbeck Group Chief Information Officer
David Norman Prince Independent Non-Executive Director
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