ManpowerGroup (MAN) Acquires Ciber Operations In Norway
Zacks Investment Research | Aug 25, 2016 08:41AM ET
Global leader in the employment services industry, ManpowerGroup Inc. (NYSE:MAN) has entered into an agreement with Ciber, Inc. (NYSE:CBR) , a major global information technology consulting, services and outsourcing firm, to purchase its Norway operations.
ManpowerGroup has not disclosed the value of the deal. However, in the SEC filing, Ciber revealed that the value of the deal stands at $7 million. The deal is expected to close later this week subject to regulatory approval.
The acquisition of Ciber's business in Norway will help ManpowerGroup's Experis in meeting the increasing demand in the IT sector. Experis deals with professional resourcing and project-based workforce solutions. We believe ManpowerGroup, which has a strong presence in Norway, will benefit from this acquisition as Ciber Norway has 10 years of IT industry proficiency.
In Jun 2016, Professional Diversity Network entered into a partnership with ManpowerGroup Solutions, one of the major brands of ManpowerGroup. This alliance has been formed with the motive to provide diversified human skills to different organizations across the U.S. Professional Diversity Network provides job opportunities to various professionals through its online networks. This partnership will therefore enable ManpowerGroup Solutions to gain quick access to over 12 million candidates.
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