Manpower Inc. (NYSE: MAN), a world leader in the employment services industry, announced today that it has acquired Vitae, a leading professional placement firm in the Netherlands. Vitae, which has offices in 10 locations, will initially operate independently under its own brand, affiliated with Manpower Professional within Manpower Netherlands. Vitae's current directors will remain active in the company.
"This acquisition of Vitae is part of our ongoing strategy to broaden our portfolio of recruitment services within our Manpower Professional brand to provide our clients with all of the talent they need, particularly the technology and finance professionals that are currently in high demand," said Jeffrey A. Joerres, Manpower Inc. Chairman and CEO.
Established in 1986, Vitae offers permanent placement for approximately 4,000 candidates per year in 12 different specialist fields. Vitae has a strong reputation for identifying effective solutions specialized in reaching and retaining professionals, and for continually nurturing the professional and personal development of candidates.
"Over the next decade, the most important corporate resource is talent, and it's also the resource in shortest supply. In tomorrow's economy, the aging population will only increase the competition for qualified candidates. Individuals will change jobs more often, forcing businesses to find innovative ways to retain key people. Manpower is committed to helping employers in the Netherlands meet this need. The acquisition of Vitae aligns with our strategy to further strengthen our professional placement segment," said Hans Leentjes, Managing Director of Manpower Netherlands.
According to Stef Hinfelaar, Director of Vitae, the acquisition by Manpower is not only a logical, but also a desired step. "In the last few years we have invested greatly in our brand and in our people. We are very pleased that this union gives us the chance to realize future growth scenarios while still maintaining our identity. For us, that is a compelling prospect."
The acquisition of Vitae by Manpower Netherlands will be submitted to the Netherlands Competition Authority (Nederlandse Mededingingsautoriteit, NMa) for approval.
Vitae provides placement solutions for permanent and temporary professionals. Each year Vitae finds permanent placements for approximately 4,000 candidates in 12 different specialist fields. Vitae has approximately 1,750 employees, 1200 of which are Vitae Interim Professionals who work primarily in Technology and Finance. Vitae was founded in 1986 and has ten locations in the Netherlands: Amsterdam, Rotterdam, The Hague, Utrecht, Eindhoven, Breda, Arnhem, Enschede, Zwolle and Maastricht.
About Manpower Netherlands
Manpower Netherlands is a full-service organization in the world of work, for small and big companies as well as for local, national and international companies. Manpower has 150 offices with 900 consultants in the Netherlands. Its modern service provision includes personnel recruitment for contract, temporary and permanent placement, assessment and selection, training, outplacement, outsourcing and consulting. Each year, Manpower Netherlands finds temporary or permanent employment for approximately 50,000 candidates at roughly 5,000 customers. The headquarters of Manpower Netherlands is located in Diemen.
About Manpower Inc.
Manpower Inc. (NYSE: MAN) is a world leader in the employment services industry; creating and delivering services that enable its clients to win in the changing world of work. Celebrating its 60th anniversary in 2008, the $21 billion company offers employers a range of services for the entire employment and business cycle including permanent, temporary and contract recruitment; employee assessment and selection; training; outplacement; outsourcing and consulting. Manpower's worldwide network of 4,500 offices in 80 countries and territories enables the company to meet the needs of its 400,000 clients per year, including small and medium size enterprises in all industry sectors, as well as the world's largest multinational corporations. The focus of Manpower's work is on raising productivity through improved quality, efficiency and cost-reduction across their total workforce, enabling clients to concentrate on their core business activities. Manpower Inc. operates under five brands: Manpower, Manpower Professional, Elan, Jefferson Wells and Right Management. More information on Manpower Inc. is available at http://www.manpower.com/.
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