Last year ended with some significant acquisitions, a busy conference season, and record high industry investment. This year, the momentum has continued and solution providers are expanding their products and reach while corporations are making more strategic investments.
It is a great time to be in HCM technology.
Each week, we will be posting some of the most relevant news announcements and industry updates. Here are some of this week’s highlights:
– CareerBuilder Acquires Textkernel: CareerBuilder announced its acquisition of the remaining stake in Textkernel that it didn’t’ already own. Textkernel, a Netherlands-based company, provides AI-driven sourcing solutions and labor market statistics. According to Aptitude Research’s latest survey, one in four companies are increasing their investment in AI this year. This acquisition is not CareerBuilder’s first move into analytics since its acquisition of Wanted Technologies and efforts to build out a more robust talent acquisition suite.
– SAP Finalizes its Acquisition of Qualtrics: Qualtrics withdrew its IPO last year after being acquired by SAP for a reported $8 million. As employee experience remains a top investment for companies, this acquisition gives SAP more opportunities to focus on employee engagement.
– Outmatch Acquires WePow: Last week, Outmatch acquired WePow with the goal of expanding its’ predictive hiring solutions and providing a better candidate experience. In our latest research, companies identified interviewing as the top area for change in 2019 and this acquisition will help companies do a better job of managing the process from interview to hire. This acquisition makes sense given the strong leadership and similar customer base of these providers.
– International Women’s Day: We are so proud to work in an industry where many companies and providers are pushing for more equality in the workforce. In honor of International Women’s Day in March, Ultimate Software shared this video of its employees (50% of whom are women). It’s worth watching.
It has been a busy week. Not to mention that companies like Aduro, 7shifts, The Predictive Index, and Jyve Corporation all raised funds this week. George LaRocque, Founder of HRWins, is the best resource for tracking all of the investment in this space. We are looking forward to seeing what surprises next week brings.
Have a great weekend!
