Monster and CareerBuilder Merger: Strengthening Job Opportunities for Talent and Employers

The combination of Monster and CareerBuilder combines two robust, trusted and complementary brands to create a job board with grander scale and reach. As the world of work continues to evolve, this combination will allow both businesses to benefit from shared resources and solutions to deliver more excellent value and opportunities to both talent and employers. Together, both companies can more effectively respond to prevailing trends in the market to deliver enhanced growth.

Under the terms of the agreement, existing CareerBuilder investors, including Apollo Funds, will collectively hold a controlling interest in the joint venture, and Randstad will hold a minority equity interest. The transaction has no material financial impact on Randstad.

The combined entity’s management team will comprise senior leaders from both companies. In due course, additional decisions regarding the combined company, including branding, will be determined.

The agreement is subject to customary regulatory approvals, and the transaction is expected to be completed in the third quarter of 2024.

Scott Gutz, CEO of Monster, said: “Through the combination of Monster and CareerBuilder we combine two trusted brands and best-in-class solutions to create a stronger job board for our talent and employers. Together, we are well positioned to benefit from the rapid growth and evolution in talent acquisition and help candidates and employers find the right fit.”

Jeff Furman, CEO of CareerBuilder, said: “We are thrilled to make this announcement, bringing together two industry leaders to create a force in the market. This strategic move will harness the strengths and expertise of both organizations, enabling us to deliver even greater value to our customers and stakeholders. By uniting our innovative teams and leveraging our complementary capabilities, we are poised to help shape the industry’s future. Together, we are stronger and better equipped to meet the evolving needs of the marketplace.”

In connection with the transaction, PJT Partners served as financial advisor, and Sidley, Vedder Price, and Paul Weiss served as legal counsel for CareerBuilder. Jefferies served as a financial advisor, and Jones Day served as legal counsel for Randstad. PWC and EY also provided financial advice to CareerBuilder and Randstad.

LTG sells VectorVMS to PIXID Group

VectorVMS is a leading vendor management platform for contingent labour with operations predominantly in North America and the UK. By way of background, VectorVMS was acquired as part of the $150 million PeopleFluent acquisition in 2018 and was subsequently separated into an independent business and brand later that year. For the full year ended 31 December 2023, Vector generated revenue and Adjusted EBIT of $11.4m and $7.1 million respectively.

The sale of Vector is part of LTG’s announced strategy to actively manage the portfolio, sharpening our focus on learning and talent development. The sale of Vector follows the completed disposals of Lorien Engineering Solutions and TTI in 2023.

The Board of Directors will consider the use of proceeds from the Vector divestiture and provide an update to the market in due course. The transaction is expected to close in July 2024.

About LTG
Learning Technologies Group plc (LTG) is a leader in the growing workplace digital learning and talent management market. The Group offers end-to-end learning and talent solutions ranging from strategic consultancy, through a range of content and platform solutions to analytical insights that enable corporate and government clients to close the gap between current and future workforce capability.

LTG is listed on the London Stock Exchange’s Alternative Investment Market (LTG.L) and headquartered in London. The Group has offices in Europe, North America, South America and Asia-Pacific.

About VectorVMS
VectorVMS was founded in 1999 and is headquartered in Raleigh, North Carolina. VectorVMS combines innovative and trusted technology with in-depth industry expertise to create specialised contingent workforce programmes. Vector’s configurable digital platform enables organisations to have full visibility into their contingent labour programs, giving them the confidence to maintain compliance, reduce costs and drive efficiency in their extended workforce. Vector has operations across the USA, Canada and the UK. Vector was acquired by LTG plc as part of the $150 million PeopleFluent acquisition in 2018 and was subsequently separated into an independent business and brand later that year.

About PIXID Group
PIXID Group (“PIXID”) was founded in 2004 and is headquartered in Paris, France. PIXID is the largest European vendor management SaaS platform, offering comprehensive solutions for digitalising the management and oversight of flexible resources. Initially specialising in temporary staffing, PIXID now provides a wide array of services, including the management of permanent contracts, fixed-term contracts, internships, and apprenticeships. With a dedicated team of nearly 250 employees across Paris, Rotterdam, London, Antwerp, and now the USA, PIXID supports thousands of businesses, ranging from small enterprises to large corporations, with a spend estimated at nearly 11 billion euros on a yearly basis on PIXID platforms. Keensight Capital, one of the leading private equity managers dedicated to pan-European Growth Buyout investments, acquired a majority stake in PIXID In 2015.

BREAKING NEWS: Bullhorn acquires Textkernel

The two companies have been collaborating intensively for some time. However, Bullhorn’s complete takeover comes as a surprise. Recently, Textkernel acquired several companies, including Sovren, Akyla, Wiseguys, and Joboti. Now, the original Dutch company has found itself in the opposite role as an acquisition target. The exact amount of money involved in the deal has not been disclosed, but it is expected to be several million euros.
The exact amount of money involved in the deal has not been disclosed, but it is expected to be several million euros.
“In 2019, Textkernel’s shares were transferred to CareerBuilder, only to be transferred again to the Dutch investor Main Capital Partners less than two years later. For example, former Connexys founder Jan van Goch resumed his role as advisor to Textkernel, leveraging the matching technology he had previously collaborated with until Bullhorn acquired Connexys.”

More than 1 billion job vacancies

Textkernel currently analyzes more than 1.3 billion job vacancies annually worldwide. These data provide customers with a comprehensive view of the global labour market for strategic insights or business development leads. Textkernel’s technology was previously integrated into the Bullhorn Marketplace, allowing recruiters to conduct international candidate searches in multiple languages and automatically process incoming applications in 15 languages, speeding up the process by 90% compared to manual entry of CV data.

Earlier this year, Bullhorn also announced the acquisition of Mployee, a provider of Salesforce-based solutions for the staffing industry in the Netherlands. Mployee’s technology will accelerate Bullhorn’s vision to deliver a complete end-to-end enterprise solution to Bullhorn customers using the Salesforce platform.

Major step forward

Gerard Mulder

“This is a ‘major step forward’ for Textkernel and Bullhorn,” responds Textkernel CEO Gerard Mulder. “Together, we will add tremendous value to the staffing and recruitment industry through our leading platforms, rich data, AI capabilities, and search & match technology. I can’t wait to get started! What’s even better is that we will continue to offer all that technology and expertise to the Recruitment and HRTech community, as Textkernel has done for 23 years. This time, with even greater strength behind us. Thanks to all the amazing people at Bullhorn, Textkernel, Main Capital Partners, and District Capital Partners for making this possible.”

“I can’t wait to get started!”

Matthew Fischer, president and COO of Bullhorn, also envisions a promising future following the complete acquisition of Textkernel. “Headquartered in Amsterdam, the company serves over 2,000 customers globally, including 8 of the top 10 largest staffing firms worldwide and Fortune 500 companies. Textkernel and Bullhorn have been long-standing trusted partners in the staffing and recruitment industry, sharing a crucial strategic goal: empowering recruiters to digitally transform their businesses for the future and maximize the use of AI in the industry.”

The next chapter

Fischer particularly praises Textkernel’s parsing technology, which processes information from job vacancies and CVs. “This technology is unmatched and will be crucial to our AI strategy. The combination of Textkernel and Bullhorn will significantly assist organizations in addressing their talent-sourcing challenges and winning new business. The acquisition of Textkernel accelerates our AI strategy significantly and unlocks the next chapter of solutions we can offer customers.”

“The acquisition of Textkernel unlocks the next chapter of solutions we can offer to customers.”

Fischer congratulates CEO Gerard Mulder, COO Guus Meijer, and the entire leadership team of Textkernel, welcoming them into the Bullhorn family. “This acquisition is a significant step forward for us, and we are committed to maximizing its potential for the benefit of our customers. I am optimistic about the impactful solutions emerging from merging our teams and our shared dedication to advancing AI in the talent sourcing landscape.” Mulder and Fischer will soon provide more insights into the collaboration through a joint webinar.