Randstad completes acquisition SFN GroupRandstad completes acquisition SFN Group
For more information, please contact:
Machteld Merens/Jan-Pieter van Winsen
Telephone: + 31 20 569 5623
Randstad Holding nv (RAND.AS) announces it has successfully completed the acquisition of SFN Group, Inc. (NYSE: SFN). The total value of the transaction amounts to approximately $771 million.
Ben Noteboom, CEO Randstad Holding nv, comments: "People from both organizations have put in a lot of effort to ensure this transaction was a success, and I thank them all for their contributions. We are very excited to be working side by side in building a strong presence in the North American market. The new combination offers an unrivaled portfolio of services to customers across the U.S. and Canada and many opportunities for growth and development to all employees. The integration process is a joint effort and I am confident it will run smoothly; it will be business as usual for customers and candidates, including continuing to receive quality service delivery."
As part of the short form merger that occurred on September 2, 2011, the remaining outstanding SFN shares have been canceled and converted into the right to receive the same $14.00 per share, in cash, without interest and less any applicable withholding taxes, that was paid in the tender offer as noted in the press release on the subject dated August 30, 2011.
Randstad specializes in solutions in the field of flexible work and human resources services. Our services range from regular temporary staffing and permanent placement to inhouse, professionals, search & selection, and HR Solutions. The Randstad Group is one of the leading HR services providers in the world with top three positions in Argentina, Belgium & Luxembourg, Canada, Chile, France, Germany, Greece, India, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland and the UK, as well as major positions in Australia and the United States. End 2010 Randstad had approximately 27,500 employees working from close to 4,200 branches and inhouse locations in 43 countries around the world. Randstad generated a revenue of 14.2 billion in 2010. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded. For more information see www.randstad.com.
SFN Group Profile
SFN Group (NYSE:SFN) is a strategic workforce solutions company that provides professional services and general staffing to help businesses more effectively source, deploy and manage people and the work they do. As an industry pioneer, SFN Group has sourced, screened and placed millions of individuals in temporary, temp-to-hire and full-time jobs for more than 65 years. With approximately 560 locations in the United States and Canada, SFN delivers strategic workforce solutions that improve business performance. From outsourcing to technology to professional services to staffing, SFN delivers the best combination of people, performance and service to improve the way work gets done. It provides its services to over 8,000 customers, from Fortune 500 companies to a wide range of small and mid-size organizations. The company employs more than 170,000 people annually through its network and is one of North America's largest employers. SFN provides its solutions through a family of specialized businesses: Technisource, Tatum, The Mergis Group, Todays Office Professionals, SourceRight Solutions and Spherion Staffing Services. To learn more, visit www.sfngroup.com.