Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Two Romanian businessmen have sold the controlling interests in software company IP Devel to Adecco Switzerland, the world leader in human resources solutions. The value of the deal stood at "several million euros" for the acquisition of 76% of the Romanian company, Bogdan Putinica general manager and co-founder of IP Devel told.
"Adecco wants to create an embedded software and testing competency centre in Romania. All their customers on this segment will be turning to us," Putinica stated. Embedded software refers to every piece of software that is not directly related to PCs. IP Devel has 130 employees and posted a turnover of EUR 1.7 million in 2005. Company officials estimate an increase in turnover to EUR 4 million this year and an increase in the number of employees of 470 by the end of 2007.
Adecco has 6600 offices in 70 countries and territories, including Romania, and 33,000 employees, In 2005 the total sales of the company were estimated at EUR 15.3 billion. In Romania, the representatives of the company estimate a total turnover for Adecco Romania and Adecco Resurse Umane of EUR 12.7 million in 2006, an increase of 85% compared to the previous year.
Eurofound (2006), Adecco, Merger/Acquisition in Romania, factsheet number 63831, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63831.