Adecco meets all required conditions for the Jobpilot acquisition and sets a final offer deadline.
In a significant move, Swiss HR Solutions, a leading global provider of human resources solutions, has announced the acquisition of Jobpilot AG. The deal, which has received approval from regulatory authorities in all relevant jurisdictions, marks a strategic expansion for the Swiss company.
Jobpilot AG, based in Bad Homburg, near Frankfurt, Germany, operates Europe's career market on the Internet and was launched in October 1995. The company, which has European subsidiaries in 15 countries, offers its services free of charge for job seekers. Regular customers of Jobpilot include all 30 companies listed in Germany's DAX share index and 21 companies in the EuroSTOXXsm 50 share index.
Swiss HR Solutions, with over 30,000 employees and operations in over 6,000 offices in 59 countries, has met all necessary conditions for the acquisition. The company, which is listed on the Swiss Stock Exchange and Virt-x, as well as the NYSE and Euronext Premier Marché, will integrate Jobpilot into its existing divisions. These divisions include Staffing, Ajilon Staffing & Managed Services, Career Services (Lee Hecht Harrison), e-Recruitment & Executive Search (jobpilot and Alexandre TIC).
Dr. Roland Metzger, CEO and founder of Jobpilot, thanked investors for their support and expressed that the integration of Jobpilot into Swiss HR Solutions will be the focus moving forward. Felix Weber, group CFO of Swiss HR Solutions, stated that the offer has been attractive to Jobpilot's shareholders and that the acquisition will create a leading European online staffing, recruiting, and service company.
Credit Suisse First Boston acted as financial advisor to Swiss HR Solutions during the acquisition process, while J.P. Morgan advised Jobpilot. The offer for Jobpilot AG shares, made by Swiss HR Solutions, has been accepted by over 91% of Jobpilot shareholders. The deadline for shareholders who have not yet accepted the offer is May 10, 2002, at 12:00 noon.
Swiss HR Solutions, a Forbes International 500 company and the global leader in HR Solutions, aims to leverage Jobpilot's extensive network to connect approximately 700,000 associates with business clients daily, further strengthening its position in the European market. The acquisition is expected to be finalized in the coming weeks.
The acquisition of Jobpilot AG by Swiss HR Solutions will integrate a leading European online recruiting platform into Swiss HR Solutions' existing e-Recruitment & Executive Search divisions. Swiss HR Solutions plans to leverage Jobpilot's extensive network to connect approximately 700,000 associates with business clients daily, further strengthening its position in the European market.
