Vedior NV
01 February 2006
Amsterdam, The Netherlands
Vedior acquires European IT recruitment specialist
For release at 8.00am on 1 February 2006
Vedior is pleased to announce it has agreed to acquire a 66% interest in
Talisman Software Holding SA ('Talisman' or 'the Company'). Talisman is a
provider of innovative flexible resource provisioning primarily to the
information technology and business consulting sectors.
Headquartered in Neuchatel, Switzerland, Talisman provides permanent and
temporary/contract staff globally from a network of offices in Switzerland,
Germany Netherlands, and the UK. The Company's core focus is on the provision of
personnel for SAP, web and eCommerce related projects.
Talisman has developed a highly experienced administration team which provides
an extensive range of complementary services to clients and temporary
contractors such as expatriate payroll management, visas, work permits, income
tax administration, housing and skills management. These value added services
enable Talisman's temporary contractors to focus on client assignments without
having to be burdened and distracted by administrative matters.
Established in 1994, Talisman has a strong track record and achieved unaudited
annual sales to 31 December 2005 of CHF 46.0 million (€30.0 million).
Zach Miles, Vedior's Chief Executive said, 'Talisman is a valuable addition to
our portfolio of IT recruitment brands and extends our position as the world's
largest provider of professional/executive recruitment. I believe the timing is
right to benefit from the resurgent demand for skilled information technology
personnel.'
According to IDC research published in October 2005, more than 50% of companies
see an increasing need for IT staff driven by extensive advanced technology
adoption in Europe and the rapid growth of eBusiness. By 2008, IDC predicts
there will be skills shortages within the technology sector of up to half a
million people across Europe, representing an average skills gap of 15.8%.
IT recruitment is already one of Vedior's most important sectors representing 9%
of Group sales and 15% of Group operating income in Q3 2005. IT staffing sales
for the first nine months of 2005 increased organically by 18% compared to the
first nine months of 2004 while operating income improved organically by 42%
over the same period. Vedior provides personnel in a full range of technical
disciplines to clients all around the world through a variety of strong local
brands such as Sapphire , Abraxas and Expectra.
Vedior's stated strategy is to increase the proportion of sales derived from
professional/executive recruitment and the addition of Talisman to the Group is
a further step towards achieving this ambition.
Talisman's existing management team will continue to develop the Company. The
outstanding 34% interest will remain with management of the Company with Vedior
having the right to acquire these shares in due course.
Company Profile:
Vedior is one of the world's largest recruitment companies and is a full-service
recruitment provider with a diversified portfolio of brands targeting a broad
range of industry sectors in 43 countries. Annual sales for 2004 were €6,467
million.
From its global network, Vedior offers temporary and permanent recruitment as
well as a number of complementary employment-related services such as
outplacement, HR outsourcing, payrolling and training.
Vedior has a leading market position in the provision of professional/executive
recruitment in sectors such as information technology, healthcare, accounting,
engineering and education as well as a strong global presence in administrative/
secretarial and light industrial recruitment.
For further information, please contact:
Zach Miles, Chief Executive +31 (0)20 573 5609
Frits Vervoort, CFO
Jelle Miedema, Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
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