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Germany's hot commodity

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Published January 10, 2006 at 4:45 PM

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Who knew German temp agencies were such sought-after investments?

On the heels of Adecco SA’s $769 million acquisition of DIS Deutscher Industrie Service AG, which will put the world’s largest staffing company even farther ahead of competitors if it goes through, Dutch rival Randstand Holding NV announced a retaliatory measure today – that it will acquire two smaller German temp agencies.

Terms of the Dutch staffing group’s acquisition of Bindan GmbH and Teccon GmbH were not disclosed, but with a German unemployment rate of 11.2%, a shift toward flexible working is expected and could give such companies a surge.

Randstand said it hopes to double its market share in Germany, from 10% to 20% with the pair of acquisitions. —Carolyn Murphy

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