IT Staffing Report: July 7, 2016

Print

ManpowerGroup acquiring Ciber Netherlands in $25 million deal

ManpowerGroup (NYSE: MAN) is acquiring the Dutch business of IT solutions and staffing provider Ciber Inc. (NYSE: CBR).

Ciber Netherlands and its 400 employees will transition over to ManpowerGroup. Transaction terms include a $25.0 million cash purchase price, which is subject to a purchase price adjustment six months after closing with respect to the retention of certain Ciber Netherlands customers, as well as an escrow amount of $5.0 million of the purchase price.

The transaction strengthens ManpowerGroup’s IT capabilities in the Netherlands, complementing the organic growth of its Experis brand. ManpowerGroup launched Experis in 2011, combining the company’s three North America professional talent and solutions organizations — Manpower Professional, Comsys and Jefferson Wells — into the brand. Experis operates in the engineering, IT and finance verticals.

“We’re pleased to be announcing this acquisition that will further accelerate our strategy of shifting our business mix towards higher value and professional services in the Netherlands,” said Jilko Andringa, president, ManpowerGroup Northern Europe. “Rapid technological advances mean the best IT professionals are more in-demand than ever. This move allows us to broaden our offerings and bring even more IT talent to our clients so they can achieve their business objectives in this rapidly changing competitive environment.”

Ciber is a global IT consulting company with approximately 6,000 employees in North America, Europe and Asia/Pacific. Ciber Netherlands, which has been operational for more than 10 years, comprised approximately 10% of Ciber’s full-year 2015 consolidated revenue of approximately $787 million.