Adecco Group boosts digital prowess with acquisition of Qapa
The world's leading talent advisory and solutions company, Adecco Group, has announced a series of acquisitions aimed at accelerating the delivery of its strategy and financial commitments. Among these acquisitions is the acquisition of QAPA, a specialist in fully digital workforce solutions in France, for an initial consideration of €65 million.
QAPA, the second-largest provider of fully digital workforce solutions in France, boasts a talent base of approximately 4.5 million workers, mainly deployed on a flexible placement basis. The company delivers an average of six qualified and available candidates per job offer and finds at least one qualified match within four hours in over 80 percent of instances.
QAPA deploys the latest technologies like artificial intelligence and cloud solutions for fast, flexible, and reliable candidate sourcing, matching, and back-office processing. This acquisition is consistent with Adecco's Future@Work strategy, aiming to elevate exposure to structural growth and high-value, technology-led services.
The acquisition of QAPA is expected to contribute to Adecco's EBITA margin from 2022 and be EVA positive in 2023. A earn out period through end 2023 is also in place, with the earn out consideration paid in four tranches, subject to the achievement of defined revenue and profitability levels. The acquisition is expected to close at end Q3 2021.
In addition to the acquisition of QAPA, Adecco has announced plans to acquire BPI Group, strengthening LHH's advisory capabilities in France. These three transactions combined are estimated to provide a small net cash inflow to the Group.
Adecco Group, headquartered in Zurich, Switzerland, and listed on the SIX Swiss Exchange (ADEN), has a strong global presence, employing over 30,000 people in 57 countries. The Group's culture of inclusivity, entrepreneurship, and teamwork has consistently ranked it as one of the 'World's Best Workplaces' by Great Place to Work®.
For further information, contact Investor Relations at [email protected] or Press Office at [email protected]. It is important to note that the company's forward-looking statements involve risks and uncertainties, and actual results could differ materially from current expectations due to numerous factors including global GDP trends, the impact of Covid-19, changes in regulation, intense competition, integration of acquired companies, changes in ability to attract and retain personnel or clients, potential IT disruptions, and disputes or legal and tax proceedings.
The Group has also announced its intention to divest its US based Legal Solutions business. With these acquisitions, Adecco Group continues to demonstrate its commitment to leading the way in talent solutions and digital workforce solutions.
In 2020, QAPA's revenues rose nearly 90 percent year-on-year and are expected to continue to grow vigorously. QAPA delivered €45 million turnover in the 12 months to end June 2021 and has around 60 employees. The acquisition of QAPA will allow Adecco Group to provide one of the core delivery channels of the future to customers today, while scaling QAPA's technical expertise across the group to accelerate the development and improvement of existing digital platforms.
The Group enables more than 3.5 million careers and leads by example, creating shared value that fuels economies and builds better societies.
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