Adecco buys US' Drake Beam Morin for 149 mn euros

26th July 2011, Comments 0 comments

Temporary staffing giant Adecco said Tuesday that it has acquired US-based firm Drake Beam Morin for 149 million euros ($216 million), a move which would give it greater access to the British, Canadian and Brazilian markets.

The merger of Adecco's Lee Hecht Harrison business with Drake Beam Morin is also expected to generate cost savings of about 10 million euros, said the Swiss-based group.

"The combination with Drake Beam Morin, Inc. considerably enhances Lee Hecht Harrisons existing geographic footprint," added Adecco.

"With a strong presence historically in its main markets in the US and France, Lee Hecht Harrison through this acquisition will also attain a leading position in each of the UK, Canada and Brazil, which are among the largest markets in the career transition and talent development services sector," it said.

Drake Beam Morin posted revenues of 84 million euros in 2010.

© 2011 AFP

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