ManpowerGroup to acquire ettain group for $925M cash; Experis IT business to reach $4.5B revenue

ManpowerGroup Inc.

Purchase price of $925M in cash; acquisition expected to close by late September 2021.
ettain's pro forma 12-month revenue ~$724M with EBITDA ~$75M.
Combined Experis IT resourcing & services business to have annual revenue >$4.5B globally and >$1.7B in North America.
Funded with cash on hand and ~$150M from revolving credit facility, repaid over 12 months.
Accretive to 2021 and 2022 EPS excluding one-time costs; significant tax benefits expected.

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