ManpowerGroup (MAN) Acquires Ciber Operations In Norway

Global leader in the employment services industry, ManpowerGroup Inc. (NYSE:MAN) has entered into an agreement with Ciber, Inc. (NYSE:CBR) , a major global information technology consulting, services and outsourcing firm, to purchase its Norway operations.

ManpowerGroup has not disclosed the value of the deal. However, in the SEC filing, Ciber revealed that the value of the deal stands at $7 million. The deal is expected to close later this week subject to regulatory approval.

The acquisition of Ciber's business in Norway will help ManpowerGroup's Experis in meeting the increasing demand in the IT sector. Experis deals with professional resourcing and project-based workforce solutions. We believe ManpowerGroup, which has a strong presence in Norway, will benefit from this acquisition as Ciber Norway has 10 years of IT industry proficiency.

In Jun 2016, Professional Diversity Network entered into a partnership with ManpowerGroup Solutions, one of the major brands of ManpowerGroup. This alliance has been formed with the motive to provide diversified human skills to different organizations across the U.S. Professional Diversity Network provides job opportunities to various professionals through its online networks. This partnership will therefore enable ManpowerGroup Solutions to gain quick access to over 12 million candidates.

ManpowerGroup’s wide range of services makes the company a true global staffing firm. The company provides services for the entire employment and business cycle including permanent, temporary and contract recruitment, employee assessment and selection, training, outplacement, outsourcing and consulting. The company’s brand value and strong global network allows it a competitive advantage and reinforces its dominant position in the market. It leverages a well-established network of approximately 2,900 offices across 80 countries and serves approximately 400,000 clients.

Zacks Rank & Other Stocks to Consider

ManpowerGroup currently has a Zacks Rank #3 (Hold). Better-ranked stocks worth considering in the retail sector include Gee Group Inc. (NYSE:JOB) and Staffing 360 Solutions, Inc. (NASDAQ:STAF) . Both these stocks hold a Zacks Rank #2 (Buy).