Kelly Services Expands in Germany
TROY, MI, Oct 22, 2007 -- Kelly Services, Inc. (NASDAQ: KELYA) (NASDAQ: KELYB), a global human resources solutions provider, announced today that it has signed a definitive agreement to acquire access AG, a specialized recruitment services company headquartered in Germany and with operations in Austria. The partnership enhances Kelly's position in one of the fastest growing recruitment markets in the world. The acquisition is subject to approval of the regulatory authorities in Germany and is expected to close by year-end. Estimated full year 2007 revenue is approximately $15 million.
Established in 1991, access, the first company to offer recruiting process management in Germany, provides full-service recruiting solutions, focusing on highly qualified graduates and professionals with academic background in the fields of business administration, engineering and IT. The company created access workshops, uniting select candidates with 150 of the 200 most attractive corporations across Germany.
Access will join Kelly's Outsourcing & Consulting Group, enhancing the company's ability to provide comprehensive talent management solutions to its global customers. As part of the transaction, the management team of Claus-Peter Sommer, Jens Ohle and Norbert Wangnick will continue to lead access as a business segment of Kelly Services.
"We are excited to increase our global presence with the acquisition of access, a company with an excellent reputation and demonstrated ability to provide valued, quality service to its customers," said Carl Camden, president and chief executive officer. "This acquisition follows our global strategy to expand into viable geographies and build upon our specialized consulting and outsourcing offerings."
"We are delighted to join the Kelly organization," said Norbert Wangnick. "Through Kelly's global network and comprehensive human capital solutions, access is well-positioned to meet the evolving needs of our customers."
About Kelly Services, Inc.
Kelly Services, Inc. (NASDAQ: KELYA) (NASDAQ: KELYB) is a world leader in human resources solutions headquartered in Troy, Mich., offering temporary staffing services, outsourcing, vendor on-site and full-time placement. Kelly operates in 33 countries and territories. Kelly provides employment to more than 750,000 employees annually, with skills including office services, accounting, engineering, information technology, law, science, marketing, creative services, light industrial, education, and health care. Revenue in 2006 was $5.5 billion. Visit www.kellyservices.com.
USA Renee Walker
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SOURCE: Kelly Services, Inc.