Bulletin: Adecco Group's Proposed AKKA Technologies Acquisition Will Diversify Its Business Mix

LONDON (S&P Global Ratings) July 28, 2021--S&P Global Ratings said today that Adecco Group AG's planned acquisition of Belgium-based AKKA Technologies SE (AKKA), for an enterprise value of €2 billion, will strengthen the group's service offering in line with its high-value, technology-led services strategy, while retaining comfortable headroom under its current rating level (BBB+/Stable/A-2). AKKA is a leading player in the engineering and research and development (R&D) services field, providing high-technology engineering consultancy services, predominantly to the mobility sector (aeronautics, automotive, space, and railway). While this sector has been hard hit by the COVID-19 pandemic--particularly aeronautics, which we believe will not meaningfully recover over the near term--other areas are returning to pre-pandemic activity levels. We therefore forecast a positive margin

...July 28, 2021 LONDON (S&P Global Ratings) July 28, 2021--S&P Global Ratings said today that Adecco Group AG's planned acquisition of Belgium-based AKKA Technologies SE (AKKA), for an enterprise value of 2 billion, will strengthen the group's service offering in line with its high-value, technology-led services strategy, while retaining comfortable headroom under its current rating level (###+/Stable/A-2). AKKA is a leading player in the engineering and research and development (R&D) services field, providing high-technology engineering consultancy services, predominantly to the mobility sector (aeronautics, automotive, space, and railway). While this sector has been hard hit by the COVID-19 pandemic--particularly aeronautics, which we believe will not meaningfully recover over the near term--other areas are returning to pre-pandemic activity levels. We therefore forecast a positive margin contribution for Adecco Group on the back of a demand rebound for AKKA's services. This should already...

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