JP Morgan has broadened its relationship with jobpilot, the German online recruitment company, by advising on its acquisition by Adecco, the Swiss recruiting firm.

JP Morgan was lead underwriter to jobpilot on its initial public offering in 2000, when the company was valued at €297m ($258m). Since the IPO, the share price of jobpiliot has fallen significantly along with several other companies in the sector, and Adecco will pay €70m for all of the issued and outstanding share capital.