Adecco To Acquire A Third Olsten Franchise Operation.Business Editors MELVILLE, N.Y.--(BUSINESS WIRE)--June 1, 2000 Adecco, the nation's leader in staffing services, today announced a definitive agreement to purchase Olsten of Cincinnati, Inc., an independent franchise of the former Olsten Corporation. In August 1999, Olsten announced it had agreed to merge its staffing and information technology services businesses with Adecco, and the transaction was completed on March 15, 2000. As a part of the agreement announced today, Olsten of Cincinnati, Inc. will abandon all legal action against parent company Olsten Corporation. No other terms have been disclosed. Founded in 1967, Olsten of Cincinnati, Inc. serves more than 1,500 clients throughout the Greater Cincinnati-Northern Kentucky metropolitan area by providing efficient, cost-effective, flexible staffing solutions such as clerical, PC/software training, industrial/ assembly, management, human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. and a host of others. Dave Dupee, Olsten of Cincinnati's Chief Executive Officer, commented on the acquisition, "For 33 years our reputation for success has been built by our commitment to consistently provide professional service, integrity and value to our clients. Adecco is noted for these attributes, so the fit is an especially good one." "We are looking forward to having Olsten Cincinnati join us as we lead the staffing services industry into the 21st century," said Debbie Pond-Heide, President of Adecco North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . "Bringing this tremendous team into the Adecco family will enable us to serve our local markets even more effectively as we provide the best service in the industry." About Adecco Adecco SA is the global leader in personnel services. With the addition of Olsten, the Adecco network connects up to 600,000 associates with business clients each day through its network of over 25,000 employees and over 5,000 offices in 59 countries around the world. Registered in Switzerland, and managed by a multinational team with expertise in markets spanning the globe, Adecco delivers an unparalleled range of flexible staffing and career resources to corporate clients and qualified associates. Adecco provides clients with staffing services and solutions covering all major industries as well as specific professions. The worldwide Adecco Brand network focuses on global industries in transition, including automotive, banking, electronics, logistics, and telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. . Adecco is also positioned as a worldwide leader in each of the major professional staffing segments with several world-class business lines: aoc (Accountants on Call) and Jonathan Wren wren, small, plump perching songbird of the family Troglodytidae. There are about 60 wren species, and all except one are restricted to the New World. The plumage is usually brown or reddish above and white, gray, or buff, often streaked, below. for Finance, Banking and Accounting; Ajilon and Computer People for high-end Information Technology, TAD and Roevin for Engineering and Technical. These Adecco businesses provide their clients with a broad range of staffing solutions, from temporary work to permanent placement, to consulting and managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality . Adecco also offers a range of HR solutions with Econova/Lee Hecht Harrison, delivering outplacement out·place·ment n. The process of facilitating a terminated employee's search for a new job by provision of professional services, such as counseling, paid for by the former employer. and career management services. Adecco clients retain this unique range of services through local, national and multinational contracts. Adecco SA is listed on The Swiss Exchange Swiss Exchange The major securities market of Switzerland. [ADECCO N (ADEN 700'939)], NYSE NYSE See: New York Stock Exchange [ADO], the Bourse bourse (b  rs), term applied to a European stock exchange. The first international bourse was established in Antwerp in the 16th cent. de Paris [RM 12819]. Further information can be found at www.adecco.com.
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