The Adecco Group

The Adecco Group, a leading Swiss HR solutions provider, launched its traditional staffing firm in the US, Adecco USA, in 1996. Adecco has launched several OFPs for flexible work to adapt to the changes in the industry. Starting in October 2016, the Adecco Group and Indian IT consulting company Infosys, launched Adia, focused on flexible work hiring within the retail, hospitality, and catering sectors.

YOSS, launched by the Adecco Group in October 2017 and developed by Microsoft, is a cloud-based platform connecting skilled freelancers with global employers. The platform is a Software-as-a-Service (SaaS) solution that can integrate with a company’s own internal systems. The platform also offers vetting services for clients. In June 2020 Adecco invested in UK-based recruitment platform Tempo.

Adecco agreed to purchase the engineering consulting and R&D services company AKKA technologies for roughly EUR 2 billion (USD 2.4 billion) in July 2021. The acquisition is reportedly the largest in the company’s history and is expected to create the largest temporary staffing provider by revenue. The transaction is expected to close in H1 2022. To fund the acquisition Adecco Group raised approximately EUR 232 million (approximately USD 274 million) through the placement of 5.1 million new shares in September 2021.

Founded in 1984, AKKA is a European engineering and R&D services provider with a strong presence in the mobility segment. It serves companies in the automotive, aerospace, rail and life sciences industries with expertise in technologies such as autonomous driving, IoT, Big Data, and robotics. As of July 2021, it has 22,000 employees and recorded revenue of EUR 1.5 billion (USD 2.1 billion) in 2020. Adecco is expected to boost its engineering and IT services offering by combining AKKA with Modis – its engineering and IT staffing business. The two businesses are expected to combine for EUR 3.7 billion (USD 4.4 billion) in revenue and 50,000 engineers and intend to cater to aerospace companies and automakers.