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French recruitment firm Synergie SA (SDG: PAR) announced the expansion of their presence in Spain through the acquisition of Spanish recruitment firm Solempleo. Solempleo is expected to achieve revenue of €12 million this business year.
Synergie anticipates achieving a revenue of €100 million from their Spanish enterprises in 2014, predominately as a result of an improved economic environment linked to export growth.
Synergie, through the acquisition, will increase its network in Spain by six offices, currently totalling 34 branches in country. This marks the second acquisition by the French recruiter in Spain, following the purchase of Olympia Empleo ETT on 1 January 2010.
Synergie, according to its most recent financial results, outperformed the rest of the market both at home and abroad. During the first nine months of the year, international revenues increased by +5.7%, compared with the same period last year.
Synergie, according to research from Staffing Industry Analysts, is one of the top ten listed staffing firms in Europe. In trading today, the company’s share price rose by +1.8% to €14.45, an increase of +114% compared with a year ago. Based on its share price, the company has a current market value of €345.9 million.