Adecco Acquires American Private IT School General Assembly

The Swiss employment agency Adecco Group announced on Monday that it will acquire the American private IT school General Assembly for $412.5 million.

General Assembly was founded in 2011 and specializes in the field of data science and analytics. Last year, they generated revenues of approximately $100 million and this year they are recording a high level of course enrollment, according to the statement from the Swiss company.

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The client list of General Assembly includes, according to data on their website, Viacom, Pearson, and L’Oreal. Adecco has embarked on acquisitions to improve business results and keep pace with competitors with higher growth rates, such as Randstad.

The Swiss company expects synergy with General Assembly in the field of education, particularly in the retraining segment covered by Lee Hecht Harrison.

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– General Assembly is currently in a phase of significant investment increase, so it is expected to moderately reduce the group’s results in 2018. The impact of this reduction is included in the current group guidelines on planned strategic investments, Adecco adds.

– It is expected that from 2019, General Assembly will gradually increase business results (of the group). In the medium term, the EBITA margin of General Assembly should be significantly higher than the group average, notes the Swiss company.

In the past three years, the revenues of the American company have grown by 30 percent annually, emphasizes Adecco.