Vedior acquires Talisman Software Holding

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Vedior acquires European IT recruitment specialist

Vedior is pleased to announce it has agreed to acquire a 66% interest in Talisman Software Holding SA (“Talisman” or “the Company”). Talisman is a provider of innovative flexible resource provisioning primarily to the information technology and business consulting sectors.

Headquartered in Neuchâtel, Switzerland, Talisman provides permanent and temporary/contract staff globally from a network of offices in Switzerland, Germany Netherlands, and the UK. The Company’s core focus is on the provision of personnel for SAP, web and eCommerce related projects.

Talisman has developed a highly experienced administration team which provides an extensive range of complementary services to clients and temporary contractors such as expatriate payroll management, visas, work permits, income tax administration, housing and skills management. These value added services enable Talisman’s temporary contractors to focus on client assignments without having to be burdened and distracted by administrative matters.

Established in 1994, Talisman has a strong track record and achieved unaudited annual sales to 31 December 2005 of CHF 46.0 million (€30.0 million). Zach Miles, Vedior’s Chief Executive said, “Talisman is a valuable addition to our portfolio of IT recruitment brands and extends our position as the world’s largest provider of professional/executive recruitment. I believe the timing is right to benefit from the resurgent demand for skilled information technology personnel.”

According to IDC research published in October 2005, more than 50% of companies see an increasing need for IT staff driven by extensive advanced technology adoption in Europe and the rapid growth of eBusiness. By 2008, IDC predicts there will be skills shortages within the technology sector of up to half a million people across Europe, representing an average skills gap of 15.8%.

IT recruitment is already one of Vedior’s most important sectors representing 9% of Group sales and 15% of Group operating income in Q3 2005. IT staffing sales for the first nine months of 2005 increased organically by 18% compared to the first nine months of 2004 while operating income improved organically by 42% over the same period. Vedior provides personnel in a full range of technical disciplines to clients all around the world through a variety of strong local brands such as Sapphire , Abraxas and Expectra.

Vedior’s stated strategy is to increase the proportion of sales derived from professional/executive recruitment and the addition of Talisman to the Group is a further step towards achieving this ambition.

Talisman’s existing management team will continue to develop the Company. The outstanding 34% interest will remain with management of the Company with Vedior having the right to acquire these shares in due course.
 

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