Adecco completes acquisition of Spring Group plc

Adecco completes acquisition of Spring Group plc and announces further acquisition of MPS Group, Inc.

Springís Peter Searle takes reins as CEO of Adecco Group UK and Ireland

(London) 20th October 2009 – Adecco Group UK & Ireland is delighted to today announce the successful acquisition of Spring Group plc, in a move that will see Springís Peter Searle take control of Adeccoís UK& Ireland businesses as Chief Executive Officer and participate in the Adecco Groupís Executive Committee.

The deal, which follows a period of consultation in accordance with the Scheme of Arrangement procedure, since Adecco declared its initial interest in acquiring Spring Group plc on August 11th, will see the latterís resources redeployed under the Adecco banner, creating one of the largest forces in UK recruitment and staffing.

ìThis deal will see the best qualities of two very successful recruitment firms combined into one powerhouse organisation, and I am honoured to be charged with the responsibility of ensuring that Adecco Group UK & Ireland enjoys the full benefit of this major acquisition,î said Searle. ìFrom my own experiences of being Country Head Adecco UK & Ireland in the past, and most recently CEO at Spring Group plc, I know that both these organisations are filled with passionate, dedicated people who will be determined to meet the challenges of a more difficult market head on, and Iím pleased to be leading themî.

Searle, who held a number of roles with Adecco before joining Spring Group as CEO in October 2006, will take control of the combined recruitment operation across the UK and Ireland. The acquisition will strengthen Adeccoís UK market position with the addition of Springís specialist expertise in a range of areas that extend from Recruitment Process Outsourcing (RPO) to HR consultancy and managed IT and telecommunications services.

The portfolio of existing brands within Adeccoís UK and Irish set up – which, alongside the mainstream staffing operation, include secretarial specialist Office Angels, dedicated IT recruiter Computer People, engineering and technical division Roevin and the finance centric Ajilon brand – will continue to operate as they did prior to the acquisition, as will the Spring Group brands.

ìWe have no immediate plans to change the very successful and tailored blend of brands that sit within the expanded Adecco Group, but will instead be looking at how we can enhance the companyís existing offering with the skills and talents that the acquisition of Spring will bring,î confirmed Searle.

Adecco Group today also announced the acquisition of MPS Group, Inc. (ëMPS Groupí), a leading provider of professional staffing services, for an enterprise value of EUR1 782 million, or USD 13.80 per share.

On the acquisition of MPS, Searle said ìThe combination of Adecco, Spring, and the MPS Group, will give us an even stronger platform to significantly expand our professional staffing business in the UK and further enhance our ability to provide compelling staffing solutions to all our clients.î