Randstad, the second-largest HR services provider in the world announced it will be buying workforce solutions company SFN Group in a multi-million dollar deal. This deal will make the combined company the third-largest human resources services provider in North America.
The Netherlands-based company will buy SFN’s outstanding shares at $14 each, resulting in a $771 million total acquisition cost. Subject to regulatory approval, the boards of both companies have approved the deal. Randstad has 25,500 employees in 44 countries. The deal is expected to close in September.