AKKA TECHNOLOGIES acquired by THE ADECCO GROUP
Context
Adecco Group announced the acquisition of a controlling stake in Akka Technologies from the Ricci family and Swilux, followed by a Mandatory Tender Offer for the remaining shares. The transaction values Akka at an Enterprise Value of EUR2.0 billion. The strategic rationale is to combine Akka with Adecco's high-tech brand, Modis. The combined entity creates the world's second-largest player in the ER&D (Engineering Research & Development) market, with 50,000 engineers and leadership in the "Smart Industry" segment. The deal aims to generate significant synergies (EUR200M revenue, EUR65M cost) and balance the geographical footprint between Europe, North America, and APAC.
AKKA TECHNOLOGIES, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Business Services sector (11.1x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Founded in 1984 by Maurice Ricci, Akka Technologies grew to become a European leader in engineering consulting and R&D services. The company specializes in assisting Corporate clients—particularly in the Automotive and Aerospace sectors—throughout their product life cycles. Akka is renowned for its expertise in "Mobility" (autonomous driving, connected cars, electric vehicles) and digital technologies (AI, IoT, Big Data). In 2020, despite the pandemic hitting the transport sector, Akka generated EUR1.5 billion in revenue and employed 20,000 engineers.
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Historical Financials (EUR)
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REFERENCES
Valuation range: EV 1b - 4b EUR
EBITDA range: 100M - 200M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Acquirer: the adecco group