AKKA Technologies and Modis unite to build a global Smart Industry leader
Adecco Group to acquire AKKA Technologies and combine the business with Modis to create the global #2 in engineering R&D market, a powerful platform to drive future Smart Industry leadership
This accelerates our Future@Work strategic implementation toward high-value, technology-led services in less-cyclical markets, while reinforcing the strength of our unique solutions ecosystem; the three Global Business Units will be recognised market leaders. Combined, AKKA Technologies and Modis will have scale, through 50,000 engineering and digital experts with deep cross-sector expertise, a global footprint, balanced industry profile, and strongholds in higher growth sectors such as mobility and software & technology services. AKKA Technologies and Modis will offer larger scale and scope for career growth and development for team members of both companies. New business will have extensive capabilities in innovative technologies, as well as a differentiated end-to-end service offering, enhancing AKKA Technologies and Modis’ ability to capture accelerating demand for Smart Industry. This is a strong value creation opportunity that elevates Adecco Group’s exposure to structural growth markets, enhances margins and improves the quality and resilience of earnings, while providing greater opportunities for AKKA Technologies and its engineers as part of Adecco Group’s ecosystem. Closing of first stage of transaction to be followed by Mandatory Tender Offer in Belgium and France for remaining AKKA Technologies securities. Closing expected in H1 2022, subject to regulatory approvals. Mr Jan Gupta appointed President-elect of combined business. Mr Mauro Ricci to be appointed as Special Advisor to the CEO of the Adecco Group and Mr Jean-Franck Ricci to be appointed as Chairman of the Customer Advisory Board of the AKKA Technologies & Modis combined business.