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Friday, March 29, 2024

Randstad Holdings Has Been Rapidly Gaining Market Share Through Acquisitions

Courtesy of Benzinga.

Randstad Holdings NV (OTCMKTS:RANJY), one of the world’s largest human resources providers, recently made the announcement that it was acquiring Monster Worldwide, Inc. (NYSE:MWW), one of the world’s largest employment websites. The deal, valued at $429 million, will give Randstad a competitive advantage with its job placement services.

Randstad’s largest competitor is Adecco Group Inc (OTCMKTS:AHEXY), a conglomerate based in Switzerland with more than 32,000 full-time employees. Adecco has overshadowed Randstad over the last few years, a feat that Randstad is looking at putting an end to. One way to do that is with the use of technology, something the Monster.com purchase looks to accomplish.

“In an era of massive technological change, employers are challenged to identify better ways to source and engage talent,” said Jacques van den Broek, CEO of Randstad, in a recent press release. “With its industry leading technology platform and easy to use digital, social and mobile solutions, Monster is a natural complement to Randstad. The transaction is aligned with our Tech and Touch growth strategy and reflects our commitment to bringing labor supply and demand closer together to better connect the right people to the right jobs. We look forward to welcoming the Monster team and working together to shape the evolving global job industry.”

Randstad has been on a buying spree of late, most notably purchasing RiseSmart for $100 million in December 2015. Founded by Sanjay Sathe in 2007, RiseSmart is a coaching and outplacement services company. It continues to operate under the Randstad umbrella with Sathe as the CEO.

Recent Acquisitions by Randstad Holdings:

  • Monster Worldwide – Online job search website Monster.com acquired by Randstand for $429 million.
  • Twago – Randstad acquired online freelance marketplace Twago in June 2016. According to the company, it will use Twago to expand its clients’ freelance talent strategies.
  • Careo – Randstad purchased Careo Group in Japan for an undisclosed sum. The purchase helps expand its presence in Japan as well as in the engineering employment sector.
  • Obiettivo Lavoro – Randstad moves to the #2 largest recruiter in Italy with the acquisition of Obiettivo Lavoro.
  • RiseSmart – $100 million purchase of private U.S. outplacement startup.

So what does this mean for Randstad? Its acquisitions are leading up to it taking over the top spot from Adecco sometime soon. Another option? Look for Adecco to make a play to purchase Randstad before it loses enough market share to make a dent in its financials.

Posted-In: News M&A

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