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Another Day, Another Deal
After an extended lull following the Jan. 5 announcement that talent management vendor Authoria would join forces with recruitment specialist PeopleClick, the merger and acquisition market has picked up in a hurry.
The quiet was broken on Monday with the news that Spherion Corporation would acquire executive services firm Tatum, a specialist in the CFO market, for $46 million in cash and stock. Publicly traded Spherion, a provider of recruiting, staffing, consulting and outsourcing, is expanding its reach into a potentially lucrative executive segment, while also further establishing the company as a professional services firm.
"Tatum is well known for their deep expertise and focus on the CFO and will complement our existing professional services business," said Spherion boss Roy Krause in a press release. He estimated professional services would account for about 44 percent of combined revenue.
On Tuesday, Milwaukee, Wis.-based Manpower announced an agreement to acquire IT services company Comsys in an estimated $431 million deal. With the acquisition, Manpower appears to be bolstering Manpower Professional, the company's IT, accounting, finance, engineering, clinical and lab sciences staffing business, and Elan, its European IT staffing business. Manpower estimates that combined total revenues will be $2.5 billion.
"The acquisition of Comsys is consistent with our strategy and strengthens the continued expansion of our professional staffing services and outcome-based solutions," said Manpower CEO Jeff Joerres in a release. "Both are areas where we have significantly grown organically over the past few years, driven by our strategy to provide clients with all the talent they need, particularly in the high demand skill verticals of IT, engineering, finance and accounting."
Then on Wednesday came news that Monster Worldwide is gobbling up YahooHotJobs for $225 million. Despite the fact that Yahoo is selling HotJobs for significantly lower than the $426 million it spent for the job board back in 2001, the deal makes sense as Yahoo CEO Carol Bartz looks to shed non-core businesses and refocus on Web content and search.
As part of the deal, Monster's online job site Monster.com will supply career search listings and content on Yahoo's homepage in North America.
@MikeProkopeak
The quiet was broken on Monday with the news that Spherion Corporation would acquire executive services firm Tatum, a specialist in the CFO market, for $46 million in cash and stock. Publicly traded Spherion, a provider of recruiting, staffing, consulting and outsourcing, is expanding its reach into a potentially lucrative executive segment, while also further establishing the company as a professional services firm.
"Tatum is well known for their deep expertise and focus on the CFO and will complement our existing professional services business," said Spherion boss Roy Krause in a press release. He estimated professional services would account for about 44 percent of combined revenue.
On Tuesday, Milwaukee, Wis.-based Manpower announced an agreement to acquire IT services company Comsys in an estimated $431 million deal. With the acquisition, Manpower appears to be bolstering Manpower Professional, the company's IT, accounting, finance, engineering, clinical and lab sciences staffing business, and Elan, its European IT staffing business. Manpower estimates that combined total revenues will be $2.5 billion.
"The acquisition of Comsys is consistent with our strategy and strengthens the continued expansion of our professional staffing services and outcome-based solutions," said Manpower CEO Jeff Joerres in a release. "Both are areas where we have significantly grown organically over the past few years, driven by our strategy to provide clients with all the talent they need, particularly in the high demand skill verticals of IT, engineering, finance and accounting."
Then on Wednesday came news that Monster Worldwide is gobbling up YahooHotJobs for $225 million. Despite the fact that Yahoo is selling HotJobs for significantly lower than the $426 million it spent for the job board back in 2001, the deal makes sense as Yahoo CEO Carol Bartz looks to shed non-core businesses and refocus on Web content and search.
As part of the deal, Monster's online job site Monster.com will supply career search listings and content on Yahoo's homepage in North America.
@MikeProkopeak
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