Vedior

Vedior NV was an international staffing services company providing flexible labor, based in Amsterdam , the Netherlands and so, contributes more than 60% of its income to the social benefits of its employees there. Vedior operates in most of Europe, North and South America, Australia and New Zealand, South Africa, Middle East and Asia. It has been a wholly owned part of Randstad Holding since the end of June 2008.

The company operates in 50 different countries and is now the world’s largest provider of professional and executive personnel in IT, accounting, healthcare, engineering, legal, and education. Citation needed ] It also provided HR-related services such as sales management, outplacement, training and business process outsourcing. Vedior operated under a number of separate brands.

History

Vedior was originally created as a spin-off from the Dutch retail and services company, after the acquisition of the French company Bis. In 1999 Vedior’s application to purchase was approved by the European Commission . Post merger, Vedior became the fourth largest staffing company in the world. Citation needed ] Former Select CEO Tony Martin became the new CEO. Zach Miles replaced Martin as CEO in 2004, and oversaw more than 20 company acquisitions. Tex Gunning joined the company as Miles’ replacing in September 2007 having previously been Group Vice President for South East Asia and Australasia at Unilever .

On 3 December 2007, Vedior agreed in principle to be acquired by Dutch-listed rival Randstad for around € 3.5 billion. The combined company would be second only to Adecco in the global recruitment business. [1] Randstad launched a formal offer valuing Vedior at € 3.3 billion on April 2, 2008, with the takeover targeted to be completed in May. [2] Randstad declared ownership of over 93% of Vedior’s shares, facilitating the company’s removal from the AEX index . [3] Vedior’s shares were delisted from the Amsterdam Stock Exchange on June 25. [4]

References

  1. Jump up^ Molenaar, Jeroen; Van de Pol, Jurjen (2007-12-03). “Randstad Agrees to Buy Vedior for EU3.5 Billion” . Bloomberg . Retrieved 2007-12-03 .
  2. Jump up^ ten Wolde, Harro (2 April 2008). “Randstad launches $ 5.2 billion for Vedior” . Reuters . Retrieved 2008-04-02 .
  3. Jump up^ “Vedior to be removed from AEX index from May 14” . AFX News . Forbes . 13 May 2008 . Retrieved 2008-05-14 . Dead link ]
  4. Jump up^ Stevenson, Reed (9 June 2008). “Vedior shares to be delisted on June 25” . Reuters . Retrieved 2008-07-04 .

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