ettain (privately-held) is one of the most significant IT resourcing and services providers in North America, with particular strength in Financial Services, Healthcare IT, Government, and Technology clients.
The purchase price is $925 million in cash, with notable future tax benefits expected.
ettain pro forma Revenues and pro forma EBITDA were ~$724 million and $75 million, respectively, for twelve months ended June 30, 2021.
ManpowerGroup (NYSE:MAN) says that the acquisition is expected to be accretive to 2021 and 2022 EPS, excluding one-time and integration costs.
ettain will become part of ManpowerGroup's Experis business, strengthening its global IT leadership and positioning Experis as a $4.5 billion global business specializing in IT resourcing and services.
The transaction is subject to regulatory approvals and customary closing conditions and is expected to close as early as late September 2021.