PARIS, FRANCE: AKKA Technologies intend to combine AKKA with Modis to create a leading player in the global engineering R&D market, a news release said.
Mauro Ricci, Chairman and CEO of AKKA, commented: “Today marks a turning point in AKKA’s history as we announce the creation of the number 2 global player in the smart industry, through the combination with Modis.
AKKA’s focus since its inception has always been to accelerate innovation for our customers and in taking this next step with Modis, we become even better positioned to do so, reinforcing our capabilities as a valuable long-term partner. The addition of cutting-edge digital engineering skills combined with our deep expertise in the engineering of the full product life cycle that we have acquired working with our blue-chip customers for decades will create value for all our stakeholders.
This opens up exciting opportunities for our engineers, who will access a larger playing field to continue to innovate alongside our customers and keep expressing their passion for technologies.
I am convinced that Modis is the ideal partner with whom to write this new chapter in our history, powering the future of smart industry together. ”
Alain Dehaze, CEO of Adecco Group said: “We are very pleased to announce today that AKKA and Modis will come together in a landmark combination. Alongside our Workforce and Talent Solutions global pillars, we are creating a global market leader in technology and digital engineering, a trusted partner to the world’s leading companies, with an ability to capture the accelerating demand for digital transformation through its Smart Industry focus. By combining AKKA and Modis, we are delivering a step-change moment in our [email protected] strategy. This is a compelling investment in a higher growth, higher margin business that has more predictable and resilient earnings and will create significant value for all stakeholders.”
He added: “The two businesses strongly complement one another, united by a shared passion for technology and talent and a dynamic, entrepreneurial culture. We also see potential for Adecco’s ecosystem to provide exciting new opportunities for AKKA and its engineers, with an enhanced ability to combine technology solutions with workforce and talent solutions as part of a truly unique service offering for our customers.”
“This is a milestone day and major leap forward in our mission to be a leading enabler of Smart Industry. Smart Industry is where IT and engineering technologies converge into a digital and connected world, and we look forward to joining forces with AKKA, combining their excellent market reputation in engineering with Modis’ strong digital experience. Together we will provide cutting-edge high-tech solutions through highly experienced engineers and digital experts,” said Jan Gupta, President of Modis.
“United, we will be a global engineering and digital solutions powerhouse, one that is a well-positioned and trusted partner worldwide, able to meet accelerating demand from customers who are facing technological disruptions and need our services and skills to scale their transformation. We have the joint ambition to lead the market and to be in the forefront of accelerating innovation and time to market for our customers and partners. Together, we will engineer a smarter future.”
The world’s leading companies are increasingly seeking trusted partners with global presence and capabilities. AKKA and Modis will be well positioned to serve these customers, leveraging AKKA’s long-standing relationships with global OEMs and a complementary footprint across more than 30 countries.
Following the combination, the business will generate around 50% of revenues from EMEA, 30% from North America, and 20% from APAC, led by Japan and Australia5. AKKA’s strong presence in Europe provides new opportunities for Modis, while Modis’ strength in APAC and its positioning in North America will provide incremental opportunities for AKKA.
Meanwhile, Modis’ balanced industry profile will be boosted by AKKA’s strong position in mobility, with the combined business exposed to some of the most attractive and largest digital engineering sectors. Mobility is anticipated to be the business largest sector, representing around 40% of revenues, while software & technology services will be the second largest with approximately 15% of revenues.