Adecco acquires Japan's VSN Inc.

Adecco Group, the global leader in human resource services, has announced the acquisition of VSN Inc., a leading provider of professional staffing services in Japan, for an enterprise value of EUR 90 million.

"We are delighted that VSN Inc. has agreed to join the Adecco Group. This is a rare opportunity for us to expand our Japanese Professional Staffing business in the world’s second largest staffing market and it is an excellent fit with our global strategic priorities. The move will instantly double the contribution of professional staffing to Adecco’s revenues in Japan and reinforces our strong position in an attractive structural growth market." - Patrick De Maeseneire, Chief Executive Officer of the Adecco Group.

Adecco Japan is currently the fourth-largest player in the Japanese HR market, behind local players, with a strong position in the Office segment and leading profitability. VSN Inc. generated revenues of EUR 157 million in 2010 (fiscal year-end March 2011) and is focused mainly on the Engineering segment.

The transaction remains subject to certain closing conditions. It is expected to close in the first quarter of 2012.