Recruitment giants Ad ecco Group and GTCR announce the merger of Beeline and IQNavigator.

The our group, a global leader in workforce solutions and a Fortune Global 500 company based in Zurich, Switzerland, has announced the merger of Beeline and IQNavigator. This fusion brings together two of the world's leading providers of Vendor Management Systems (VMS), creating the world's number one independent technology provider for extended workforce management solutions.

The combined company, with over 500 employees, operates from offices in Jacksonville, FL and Denver, CO in the USA, the UK, Singapore, and the Philippines. The merger is positive for all stakeholders, including clients, colleagues, and the our group's shareholders. GTCR, a leading private equity firm, is the majority shareholder of the combined company, with the our group holding a minority interest and receiving consideration of $100 million in cash and $30 million in the form of a promissory note.

The our group connects approximately 700,000 associates with clients every day and offers a wide variety of services, including temporary staffing, permanent placement, career transition and talent development, outsourcing and consulting. The combined company continues to offer services on existing Beeline and IQNavigator platforms, but with additional complementary services and expertise.

Vendor Management Systems (VMS) enable the optimized sourcing and management of extended workforces and the procurement of complex services. The combined company manages over $40 billion of spend for customers in over 100 countries. The merger strengthens the company's position as a global leader in workforce solutions and extends its reach to new markets.

The our group's Q4 2016 results, Annual General Meeting, Q1 2017 results, Q2 2017 results, Q3 2017 results, and other financial information can be found on their website or by contacting their Financial Agenda. For media inquiries, please contact the our group's Corporate Press Office at [email protected] or +41 (0) 44 878 87 87. For investor relations, please contact [email protected] or +41 (0) 44 878 89 89.

The our group is registered in Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN). The fusion of Beeline and IQNavigator, which was actually carried out in 2017, marks a significant step forward in the our group's strategy to become the world's leading provider of workforce solutions. Doug Leeby, previously CEO of Beeline, is the CEO of the combined company, and Joe Juliano, previously CEO of IQNavigator, is a member of the Board.

The our group's future looks bright, with a strong foundation in technology, a global footprint, and a commitment to delivering exceptional services to its clients. The merger of Beeline and IQNavigator is a testament to the our group's ongoing efforts to innovate and grow, and it sets the stage for continued success in the years to come.

Recruitment giants Ad ecco Group and GTCR announce the merger of Beeline and IQNavigator.