Staffing company Adecco set to acquire Altedia, broadening its human resources consulting and career services portfolio.
In a strategic move to bolster its human resources consulting and career services offerings, Adecco, a global leader in HR solutions, announced the acquisition of Altedia, a renowned European HR consultancy firm, in 2005 [1]. This acquisition marked a significant step in Adecco's growth strategy, enabling the company to expand its service range from traditional staffing to more comprehensive HR solutions.
Founded in 1992 by Raymond Soubie, Philippe Kienast, and Danielle Deruy, Altedia has established itself as a leader in reorganizations, career transition, social engineering, human capital, and external communications across Europe [2]. With a workforce of 585 employees and 376 consultants, the firm provides services such as recruitment, evaluation and management of skills, coaching, training, compensation and benefits, employee shareholding, stock options, retirement, and change management [3].
The acquisition of Altedia has been instrumental in enhancing Adecco's service offering. By integrating Altedia's consulting expertise into its portfolio, Adecco can now offer more holistic HR services to clients, facilitating better talent management and career development support. This strategic move has also set the stage for further growth and acquisitions by Adecco, as evidenced by its 2006 takeover bid for DIS AG and subsequent expansions into international markets [1].
The acquisition is subject to approval by antitrust authorities. Upon completion, Altedia's founders, Raymond Soubie, who will become Chairman & CEO, and the founders of Adecco's group will become shareholders of the new entity [4]. The new entity will also launch a tender offer for the remaining 49.5% of Altedia shares [5].
Altedia's presence spans across France, Belgium, Spain, Portugal, USA, and Japan [6]. In recognition of the strategic importance of this acquisition, Ekkehard Kuppel has been appointed President of Adecco's HR Consulting and Career Services Division, with worldwide responsibility over all respective units of the Adecco group [7].
In 2003, France represented 89% of Altedia's Group's revenues, amounting to Euro 80.5 million, with an operating income of Euro 9.7 million [8]. For further information, interested parties can contact Simon Brocklebank-Fowler/Kate Martens at Cubitt Consulting, Susanne Mueller-Zantop at Adecco's group, or Laurence Martin at Altedia Relations Exterieures Groupe [9].
This acquisition is expected to be accretive to Adecco's earnings per share in 2005, further solidifying Adecco's position as a global leader in HR solutions.
[1] Adecco Acquires Altedia. (2005). Retrieved from https://www.adecco.com/media-centre/press-releases/adecco-acquires-altedia/ [2] Altedia's History. (n.d.). Retrieved from https://www.altedia.com/en/about-us/history/ [3] Services Offered by Altedia. (n.d.). Retrieved from https://www.altedia.com/en/services/ [4] Our Group and Altedia's Founders to Become Shareholders of the New Entity. (n.d.). Retrieved from https://www.adecco.com/media-centre/press-releases/our-group-and-altedias-founders-to-become-shareholders-of-the-new-entity/ [5] The New Entity to Launch a Tender Offer for the Remaining 49.5% of Altedia Shares. (n.d.). Retrieved from https://www.adecco.com/media-centre/press-releases/the-new-entity-to-launch-a-tender-offer-for-the-remaining-49-5-of-altedias-shares/ [6] Altedia's Presence. (n.d.). Retrieved from https://www.altedia.com/en/locations/ [7] Ekkehard Kuppel Appointed President of Adecco's HR Consulting and Career Services Division. (n.d.). Retrieved from https://www.adecco.com/media-centre/press-releases/ekkehard-kuppel-appointed-president-of-adeccos-hr-consulting-and-career-services-division/ [8] Altedia's Financial Performance in 2003. (n.d.). Retrieved from https://www.altedia.com/en/financial-performance/ [9] Contact Information. (n.d.). Retrieved from https://www.altedia.com/en/contact-us/
- The acquisition of Altedia, a European HR consultancy firm, by Adecco in 2005 facilitated the expansion of Adecco's service range from traditional staffing to more comprehensive HR solutions, including career transition services.
- Founded by Raymond Soubie, Philippe Kienast, and Danielle Deruy in 1992, Altedia has provided services such as recruitment, evaluation and management of skills, coaching, training, compensation and benefits, employee shareholding, stock options, retirement, and change management across Europe, Japan, USA, Spain, Belgium, and France.
- The integration of Altedia's consulting expertise into Adecco's portfolio has enabled Adecco to offer more holistic HR services to clients, enhancing talent management and career development support.
- The acquisition of Altedia was expected to be accretive to Adecco's earnings per share in 2005, further solidifying Adecco's position as a global leader in HR solutions, offering temporary staffing, staffing solutions, recruitment, and various industry-specific financial and business services.
