Swiss Firm to Acquire Two Midwest Olsten Franchise Operations

Adecco SA, a leading personnel and career services firm, signed a definitive agreement to purchase the Milwaukee, WI and Chicago franchises of Olsten Corp. As part of the two agreements, all legal action taken by the franchises against parent company Olsten Corp. will be abandoned.

No other terms were disclosed.

Founded in 1962, Olsten of Chicago, Inc. is the global staffing company's largest and oldest franchise. The operates a network of 21 offices, providing assistance in the areas of financial, industrial and office staffing.

Olsten of Milwaukee, Inc. has provides staffing assistance to businesses across the state in a variety of administrative, industrial, professional and technical fields for 30 years. With 10 offices in the Milwaukee metropolitan area, the firm employs about 12,000 people a year for 2,000 clients.

In August, Olsten agreed to merge its staffing and information technology services businesses with Adecco, a Swiss staffing and personnel services firm. The registration documents for that transaction are currently under review by the U.S. Securities and Exchange Commission.