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Manpower completes Comsys buy

April 06, 2010

Manpower Inc. (NYSE: MAN) reported Monday that it completed its acquisition of Comsys IT Partners Inc.

Houston-based Comsys provides information technology staffing and ranked No. 3 on Staffing Industry Analysts' list of largest IT staffing firms.

"The acquisition of Comsys is consistent with our strategy and strengthens the continued expansion of our professional staffing services and outcome-based solutions," Manpower Chairman and CEO Jeff Joerres said in a statement.

Manpower is paying $17.65 per share in cash and stock. The deal represents a total enterprise value of $431 million. Manpower first announced plans to buy Comsys on Feb. 2.

Comsys had been a publicly held company, but shares ceased trading on Monday with its acquisition by Manpower.