The Adecco Group is acquiring Akka Technologies, a global engineering and consulting firm based in Brussels, Belgium, at an enterprise value of €2.0 billion (US$2.36 billion). Reuters reported the deal is the largest in Adecco’s 25-year history. Adecco said the acquisition would make it the No. 2 player in the global engineering R&D market.

Akka Technologies had posted revenue of €1.50 billion in 2020. The acquisition is expected to close in the first half of next year.

“This is a compelling investment in a higher growth, higher margin business that has more predictable and resilient earnings and will create significant value for all stakeholders,” Adecco CEO Alain Dehaze said.

Plans call for Adecco to combine Akka with its Modis business. It will create a combined workforce of 50,000 engineers and digital experts. Jean-Franck Ricci, Akka managing director, will be appointed chairman of the customer advisory board of the combined business and Mauro Ricci, chairman and CEO of Akka, will be appointed special advisor to the CEO of the Adecco Group.

Jan Gupta, president of Modis, was appointed president-elect of the combined business.

The combined business will generate 50% of revenue from Europe, the Middle East and Africa; 30% from North America; and 20% from Asia Pacific, mainly from Japan and Australia.

“Akka’s strong presence in Europe provides new opportunities for Modis, while Modis’ strength in APAC and its positioning in North America will provide incremental opportunities for Akka,” according to Adecco.

Akka had acquired PDS Tech Inc., one of the largest engineering staffing firms in the US, in 2018.