Vedior is pleased to announce that it has signed a definitive agreement to acquire a 70% interest in GULP Information Services GmbH and GULP Consulting Services GmbH (collectively referred to as “GULP” or “the Company”), a provider of temporary information technology specialists.

With a headquarters in Munich, GULP operates through a network of 4 offices servicing clients throughout Germany, Austria and Switzerland. Founded in 1996, the Company’s clients include leading technology companies and consultancies.

In addition to its core temporary recruitment revenue stream, GULP also sells access to an online database of more than 60,000 skilled freelancers to employers searching for appropriate project skills, as well as subscriptions for the freelancers themselves to promote their availability and expertise.

Tex Gunning, Vedior’s Chief Executive said, “This acquisition achieves two important objectives for Vedior. Firstly expanding our presence in the fast-growing German recruitment market and, secondly enhancing our global presence in the provision of skilled IT professionals”. Information technology is Vedior’s largest professional/executive recruitment sector and, in 2006, annual sales derived from IT staffing amounted to €768 million.

For the twelve months up to 31 December 2006, GULP achieved (audited) sales of €40.9 million. GULP’s existing management team will continue to develop the Company and the outstanding 30% interest will remain with management.

The transaction has been approved by the boards of directors of both companies, and is subject to approval by the Bundeskartellamt (German anti-trust organisation).



Company Profile:
Vedior is one of the world’s largest recruitment companies and is a full-service recruitment provider with a diversified portfolio of brands targeting a broad range of industry sectors.
From its global network of offices spanning Europe, North America, Australasia, Asia, South America and Africa, Vedior offers temporary and permanent recruitment as well as a number of complementary employment-related services such as outplacement, HR outsourcing, payrolling and training.
Vedior has a leading market position in the provision of professional/executive recruitment in sectors such as information technology, healthcare, accounting, engineering and education. We also have a significant global network providing administrative/secretarial and light industrial recruitment.


For further information, please contact:
Tex Gunning, Chief Executive Officer +31 (0)20 573 5609
Frits Vervoort, Chief Financial Officer
Jelle Miedema, Company Secretary