Kelly Services (KELYA) has issued an update.
Kelly Services, Inc. is set to significantly expand its global talent solutions portfolio by acquiring Motion Recruitment Partners, LLC through a strategic merger valued at $425 million, with an additional earn-out of up to $60 million. This acquisition will integrate Motion’s diverse group of talent solution providers into Kelly’s already robust offerings, enhancing its position in the market. The transaction, expected to close in the second quarter of 2024, will be funded through debt and capital on hand, including proceeds from the recent sale of Kelly’s European operations. The deal announcement was made public via a press release on May 3, 2024.
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