Adecco fulfils all necessary conditions for Jobpilot acquisition and announces final offer deadline
CHESEREX, SWITZERLAND/ BAD HOMBURG, GERMANY April 29, 2002 Adecco SA (Swiss Stock Exchange - ADEN/ trading on Virt-x: 1213860), the world's leading provider of personnel services, today announced that all relevant conditions have been met to acquire all of the issued and outstanding share capital of jobpilot AG (Frankfurt Neuer Markt - JOA). In excess of the required 75% of jobpilot shareholders - more than 91% - have accepted the offer at the end of the offer period and regulatory authorities in all relevant jurisdictions have given their approval. The offer is therefore now unconditional. Pursuant to German law, all shareholders not having accepted the offer are given an additional period to do so. Such period will end on 10th May 2002. 12.00 midday.
According to Adecco Group CFO Felix Weber, "We are delighted that our offer has proved so attractive to jobpilot's shareholders and that regulatory approval for the acquisition has been granted sooner than expected. We strongly believe that jobpilot's entry into the Adecco family will create a leading European online staffing, recruiting and service company by combining jobpilot's internet platform with the branch network of Adecco. We are convinced that this is a great opportunity for the remaining jobpilot shareholders to accept the offer."
Dr. Roland Metzger, CEO and founder of jobpilot, said: "We thank our investors who strongly supported us und accepted this strategic deal. Now the vital process of integrating jobpilot into Adecco will be our focus. The e-Recruiting market will continue to be a growing market and we have all the options to shape and gain an even bigger portion of this market."
Credit Suisse First Boston acted as financial advisor to Adecco. J.P. Morgan acted as financial advisor to jobpilot.
Adecco SA is a Forbes International 500 company and the global leader in HR Solutions. The Adecco network connects up to 700,000 associates with business clients each day through its network of over 30,000 employees and over 6,000 offices in 59 countries. Registered in Chéserex, Switzerland, and managed by a multinational team with expertise in markets spanning the globe, Adecco delivers an unparalleled range of flexible staffing and career resources to corporate clients and people seeking work.
Adecco SA comprises four divisions; Adecco Staffing; Ajilon Staffing & Managed Services; Career Services (Lee Hecht Harrison); e-Recruitment & Executive Search (jobpilot and Alexandre TIC); These divisions offer flexible staffing solutions to a wide range of global industries and professions, including IT, engineering, automotive, banking, logistics, telecommunications, finance, accounting, administrative, legal, sales and marketing. Together they provide a wealth of services and expertise in temporary, permanent, professional and managed staffing; career counselling, training, development and outplacement; e-recruitment (exploiting the internet) and executive search. Find out more about Adecco SA at www.adecco.com
Adecco SA is registered in Switzerland and is listed on the Swiss Exchange (ADEN / trading on Virt-x: 1213860), NYSE (ADO), Euronext Premier Marché (12819).
jobpilot AG offers with jobpilot (www.Jobpilot.com) Europe's career market on the Internet. The company launched its innovative career portal in October 1995. Sites are now online in 15 European countries. Regular customers include all 30 companies listed in Germany's DAX share index as well as 21 companies in the EuroSTOXXsm 50 share index.
jobpilot's range of services includes several innovative products in addition to publishing job vacancies and requests (jobpilot workflow, Direct-Selection, Online-Assessment, etc.). jobpilot's services are free of charge for job seekers.
jobpilot is based in Bad Homburg, near Frankfurt, Germany. European subsidiaries are located in Austria, Belgium, the Czech Republic, Denmark, France, Hungary, Italy, the Netherlands, Norway, Poland, Spain, Switzerland and the United Kingdom.
jobpilot is registered in Germany and is listed on the Neuer Markt of the Frankfurt Stock Exchange (Neuer Markt: WKN 514170, Symbol: JOA) You can find out more about jobpilot from our website: www.jobpilot.com.
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For further information, please contact:
Chris King, Adecco Corporate Communications
Tel: +41 1 878 8838; Mobile: +41 79 617 6606; Email: Chris.King@Adecco.com
John Bee, Adecco Corporate Communications
Tel: +41 1 878 8837; Mobile: +41 79 615 1750; Email: John.Bee@Adecco.com
Stephan Lindenfeld, jobpilot Public and Investor Relations
Tel: +49 6172 919 297 Mobile: +49 171 858 4892 Email:email@example.com