Kohlberg Kravis Roberts and Usen, the Tokyo-based cable broadcaster and media content provider, have signed a definitive agreement whereby KKR will acquire Intelligence, the recruitment services subsidiary of Usen, for JPY32.5bn (approximately USD356m).
Established in 1989, Intelligence’s three core business areas are permanent job placement, temporary staffing and outsourcing, and job search advertising.
"Intelligence is a dynamic company with a highly capable and enthusiastic management team. As one of the few recruitment services firms in Japan providing such a comprehensive offering, the company is well positioned to take advantage of an anticipated upturn in economic activity. Further growth of the recruitment sector is also expected as a result of the evolving human resource needs of companies, as well as increased mobility of domestic and international labour markets due to growing awareness of career development opportunities," says Shusaku Minoda, managing director of KKR and chief executive officer of the firm’s Japan operations.
Hirotoshi Takahashi, Intelligence president and representative director, adds: "We are delighted that KKR supports our vision for the future of the company. Intelligence’s career consulting, staffing and outsourcing, and media operations each display considerable growth potential. By establishing a partnership with KKR, which has a proven track record of adding value through long-term partnerships with companies around the world, Intelligence expects to unlock value and strengthen the business for the benefit of all stakeholders."
The parties expect to complete the acquisition by the end of July 2010.
