The Adecco Group Completes acquisition of majority stake in AKKA Technologies

Posted 24 February 2022


AKKA & Modis combination creates a leading Smart Industry business; Akkodis announced as future global brand

  • The Adecco Group has acquired 59.91 percent of AKKA Technologies shares(a) from the Ricci Family Group and SWILUX S.A., a wholly owned subsidiary of Compagnie Nationale à Portefeuille SA (b), bringing its total holding to 64.72 percent (c)
  • Modis, the Adecco Group’s high-tech services business, will be combined with AKKA, a leader in engineering R&D services, to become a leading engineering and digital solutions business in the Smart Industry market
  • Akkodis will become the global brand for the combined business, leveraging the existing value of both brands and providing a clear, distinct brand proposition to customers and colleagues to amplify business development
  • Highly experienced leadership team appointed under the leadership of Jan Gupta, President; Dominique Cerutti appointed Senior Advisor to Jan Gupta and the future Akkodis business unit
  • The Adecco Group’s strategic implementation toward high-value, technology-led services is accelerated and the Group’s unique solutions ecosystem strengthened
  • Good line of sight on c.70% of 2022’s synergy target, corresponding to over €15 million synergies
  • Transaction expected to be margin and EPS accretive in year one (d) and EVA positive in year three
  • Mauro Ricci and Jean-Franck Ricci will receive 1,626,772 newly created ordinary shares of Adecco Group AG with a 24 month lock-up period (e)
  • The Adecco Group will launch a Mandatory Tender Offer for remaining AKKA Technologies securities; completion expected by end H1 2022

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