Feb. 2, 2010 (Business Wire) -- Tatum, LLC, the nation’s largest executive services firm, announced today that they will be merging into Spherion Corporation (NYSE: SFN).
“This move positions the Tatum brand to accelerate growth at a time when demand for support for the C-suite is very strong,” said Rich D’Amaro, chairman and chief executive officer of Tatum. “Tatum will be able to leverage its C-level management and consulting service offerings across a much larger customer base and retain its partnership culture, while relying on Spherion’s back-office infrastructure.”
Commenting on the Tatum acquisition, Spherion president and CEO Roy Krause noted, “Tatum is well-known for their deep expertise and focus on the CFO, and will complement our existing professional services business. We also see significant opportunities for revenue growth through our combined relationships, while achieving cost synergies through the reduction of duplicative back-office functionality. We welcome the addition of Tatum’s senior management team to the Spherion family and look forward to their contributions as we become a leader in the C-level interim and consulting marketplace.”
William Grubbs, Spherion’s executive vice president and chief operating officer, added, “Tatum’s focus on value added services fits perfectly with Spherion’s commitment to delivering service excellence. Tatum, in combination with Mergis, Technisource and SourceRight, enhances our capability to provide seasoned CFOs and other highly skilled professionals to solve client challenges.”
“Tatum is delighted to have this kind of support from Spherion’s top management,” said D’Amaro. “I can say that we are prepared to move ahead as one team as quickly as possible.”
Tatum will operate as a stand alone division of Spherion and will continue to be led by Rich D’Amaro, acting as president.
Robert W. Baird & Co. served as the exclusive financial advisor to Tatum.
About Tatum, LLC
Companies turn to Tatum when critical business challenges arise because we immediately deliver financial and technology operational expertise via solutions tailored to the Office of the CFO. We understand the urgency of NOW and we leverage executives and consulting professionals nationwide to accelerate results to create more value™. For more information, visit www.tatumllc.com.
ABOUT SPHERION
Spherion Corporation (NYSE:SFN) is a strategic workforce solutions company that provides recruiting, staffing, consulting and outsourcing specialties to meet the evolving needs of companies and job candidates. As an industry pioneer for more than 60 years, Spherion has sourced, screened and placed millions of individuals in temporary, temp-to-hire and full-time jobs.
With approximately 575 locations in the United States and Canada, Spherion delivers strategic workforce solutions that improve business performance. Spherion provides its services to approximately 8,000 customers, from Fortune 500 companies to a wide range of small and mid-size organizations. Employing more than 160,000 people annually through its network, Spherion is one of North America’s largest employers, providing general staffing, technology services, professional services and outsourcing. To learn more, visit www.spherion.com.
