THE HAGUE, 21/09/06 - Dutch temps company Olympia is acquiring German counterpart Allbecon via a share swap.

Olympia, the Netherlands' sixth-biggest temps company, will hold a 58 percent stake in the Allbecon Olympia combine, to be listed on the Frankfurt bourse. Allbecon's market valuation in Frankfurt was about 33 million euros yesterday. Olympia CEO Marcel Slaghekke will head the merged concern, holding a 51 percent stake in it.

Olympia booked revenues of 139.5 million euros last year. About two-third of its 90 offices are franchised. Allbecon has 86 offices, three-quarters in Germany and Spain and the rest in Italy, Poland, Switzerland and Portugal.

Olympia and Allbecon had combined 2005 revenues of 275 million euros, and the merged concern is projecting revenues of over 300 million euros this year. Olympia plans to expand the number of Allbecon branches via franchising. Germany in particular is seen as a growth market.