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Synergie (SDG:PAR), through its British subsidiary ACORN, has bought out the business assets of London-based firm Oracle Global Resourcing, thus extending its network coverage in the United Kingdom.
This entirely self-financed operation enables the Synergie Group to be based in London, with two agencies, one in the heart of the capital, the other in the suburbs.
Potential annual sales are estimated at 20 million Euro in the short term.
The acquired lines of business will enable Synergie to develop a customer base both in the industrial sector and in the service and distribution sectors, more particularly specialising in the railway sector, where investment projects in Great Britain over the next ten years are huge.
Synergie, listed on Eurolist Compartment B of NYSE Euronext Paris (ISIN FR0000032658), is a provider of global human resources management services with a network of 550 agencies in Europe and Canada. It is the 6th largest staffing company operating in France.
Investment firm, Arkeon Finance has confirmed its recommendation to buy Synergie shares and says in a statement that "the temporary staffing agency should be able to produce a positive return on investment in spite of the strong fall in turnover."
In early trading Synergie shares were unchanged at 16.50 Euro.