HR ANALYTICS, WORKFORCE MANAGEMENT
PRnewswire | June 01, 2023
Veritone, Inc. (NASDAQ: VERI) ("Veritone" or the "Company"), a leader in enterprise AI software and services, today announced its agreement to acquire Broadbean, a global leader of software-as-a-service (SaaS) technology that makes talent acquisition and engagement easier, faster and more efficient, from CareerBuilder. Covering more than 180 countries, serving 3,000+ clients and integrated with over 100 Applicant Tracking Systems (ATS) partners, the strategic acquisition of Broadbean will expand Veritone's AI-powered human resources solutions offerings and will build upon Veritone's acquisition of PandoLogic in 2022. Total consideration paid will be $52.5 million in cash on a cash- and debt-free basis. The acquisition is expected to be immediately accretive to Veritone's operations, and on a standalone basis, is expected to generate SaaS and GAAP revenues of over $35.0 million on an annualized basis while contributing attractive EBITDA margins.
Veritone's Innovative HR Solutions Enable Increased Efficiencies within the Hiring Process
Both Broadbean and PandoLogic hold leadership positions in the rapidly evolving talent acquisition market, which is valued at $36.1 billion globally as of 2022, according to Staffing Industry Analysts. By using AI recruiting tools to engage job seekers, Veritone HR Solutions will accelerate employers' hiring efficiency with advanced data-driven hiring decisions and process automation. With more than half of Broadbean's revenue coming from outside of North America, the combined offerings will further accelerate Veritone's geographic expansion and address the challenges presented by today's remote and hybrid hiring requirements.
The acquisition of Broadbean will add more than 5 billion data points of global job advertising performance to Veritone's AI algorithms and analytics, enabling Veritone to further enhance recruitment insights for customers and scale AI-driven enhancements across the business.
"This transformative acquisition signifies Veritone's focused approach to expanding and scaling our AI-powered HR Solutions portfolio globally," said Ryan Steelberg, president and chief executive officer of Veritone. "The acquisition will build on the strength of our organic growth, will expand our HR Solutions addressable market opportunity, is expected to be immediately accretive, and will unlock new sales growth and development opportunities as Veritone integrates PandoLogic's recruitment technology into Broadbean's global distribution software and network. The combination of our companies will extend the reach of leading AI technology and HR SaaS solutions globally to the world's largest multinational employers that require more efficient and scalable human resource and hiring solutions.
"We believe the added financial scale and leverage, and product expansion into over 100 ATS partners, will enable us to accelerate further adoption and utilization of our AI via PandoLogic's programmatic technology," added Steelberg. "Both companies have been leaders in the HR and talent acquisition markets, including Broadbean's global footprint with over 3,000 customers. We are excited about the prospects, and welcome Broadbean's talented team to Veritone."
"With our shared vision for technological HR-enabled solutions and strong cultural alignment, we are looking forward to becoming a part of the Veritone family," said Alex Fourlis, President, Broadbean, who will step into a new senior leadership role with the combined company after the transaction closes. "We believe that Veritone's AI capabilities and our combined portfolio will help unlock value in Broadbean's performance data, client and partner ecosystem."
Post-closing, the combined businesses of Broadbean and PandoLogic will be integrated and rebranded as Veritone HR Solutions. This will enable Veritone to better service new and existing customers with a broader suite of HR-enabled solutions and allow for increased efficiencies and a go-to-market team that has broader geographic presence.
In conjunction with the acquisition, Veritone is announcing several executive changes within its HR Solutions business. Terry Baker has stepped down as President and Chief Executive Officer of Veritone subsidiary, PandoLogic, and accepted a new role as independent advisor to Veritone, supporting Veritone's HR Solutions business. Additionally, Veritone has appointed Matthew O'Connor as Chief Revenue Officer of Veritone HR Solutions.
UBS Investment Bank is acting as sole financial advisor to Veritone. Cooley LLP is acting as legal counsel to Veritone. PJT Partners and LionTree are acting as financial advisors to Career Builder. Sidley Austin is acting as legal counsel to Career Builder.
About Veritone
Veritone is a leading provider of artificial intelligence (AI) technology and solutions. The company’s proprietary operating system, aiWARE™, orchestrates an expanding ecosystem of machine learning models to transform audio, video and other data sources into actionable intelligence. aiWARE can be deployed in a number of environments and configurations to meet customers’ needs. Its open architecture enables customers in the media and entertainment, legal and compliance, and government sectors to easily deploy applications that leverage the power of AI to dramatically improve operational efficiency and effectiveness. Veritone is headquartered in Costa Mesa, California with over 300 employees, and has offices in Denver, London, New York, and San Diego.
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HR ANALYTICS, EMPLOYEE EXPERIENCE
Businesswire | May 31, 2023
G&A Partners, a leading professional employer organization (PEO), is bringing its comprehensive HR solutions and high-quality, competitive benefits plans to Ohio small and mid-sized businesses, the company announced today.
G&A Partners provides best-in-class client service and service delivery plans that help build thriving businesses. Plans are customizable and offer transparent pricing, which will allow Ohio business owners to build a plan that meets their budget and needs. Additionally, working with G&A gives small business owners access to cutting edge and affordable benefits options that aid in recruiting and retaining top talent, an ongoing challenge in today’s job market.
“We’re excited to announce our entry into the Ohio market beginning with the Cincinnati area,” says Matthew Walus, G&A Partners’ vice president of sales in the Midwest region. “Ohio has a vibrant small business community, well-aligned to the industry-leading PEO and human capital management services we provide. The expansion into Ohio represents strong growth for G&A in the Midwest, alongside locations in Illinois, Minnesota, Wisconsin, and Iowa.”
G&A Partners, which was named to the Inc. 5000 list of America’s top private companies for the 17th time, recently announced it is also expanding into the Southeast region and Oregon.
About G&A Partners
G&A Partners, one of the 10 largest professional employer organizations (PEO) in the nation, has been helping entrepreneurs grow their businesses for more than 25 years. By delivering world-class services with trusted experts in HR administration, benefits, and payroll, clients now have the time and freedom they need to focus on what matters most—their employees, products and services, and their customers.
Headquartered in Houston, G&A Partners has offices located throughout the U.S.
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TALENT MANAGEMENT, TALENT ACQUISITION
PRnewswire | May 30, 2023
Humareso, a leading provider of human resources solutions, is thrilled to announce the launch of its innovative Talent Strategy Consulting offering. Designed to transform the way businesses approach talent management, this new service provides organizations across the United States with strategic guidance and expertise to optimize their talent acquisition, development, and retention processes.
In today's competitive business landscape, organizations face numerous challenges in attracting and retaining top-tier talent. Humareso understands the critical importance of building a strong workforce that aligns with a company's vision, values, and goals. This Talent Strategy Consulting offering is tailored to empower businesses by implementing comprehensive human resources strategies that drive organizational success and foster a culture of excellence.
Humareso's team of seasoned HR consultants brings a wealth of experience and expertise to the table. With a deep understanding of industry best practices, market trends, and regulatory compliance, they collaborate closely with clients to develop customized talent strategies that meet their unique needs. By leveraging cutting-edge tools and methodologies, Humareso helps businesses align their talent acquisition efforts with their long-term goals, ensuring a competitive advantage in the marketplace.
Key features of Humareso's Talent Strategy Consulting offering include:
Talent Acquisition Enhancement: Humareso works closely with organizations to streamline their recruitment processes, identify top talent pools, and implement effective sourcing strategies. Through optimized candidate screening and selection techniques, businesses can build high-performing teams that drive innovation and success.
Performance Management Optimization: By developing robust performance management systems, Humareso helps businesses align individual goals with organizational objectives. This results in enhanced employee engagement, increased productivity, and a culture of continuous improvement.
Leadership Development and Succession Planning: Humareso provides strategic guidance on identifying and developing high-potential employees, ensuring a strong leadership pipeline for future growth. Through tailored training programs and succession planning initiatives, businesses can cultivate the next generation of leaders.
Employee Engagement and Retention Strategies: Recognizing the value of a highly engaged workforce, Humareso assists businesses in designing comprehensive employee engagement programs that foster a positive work environment, nurture talent, and increase employee satisfaction and retention.
John Baldino, MSHRD SPHR SHRM-SCP, President of Humareso, stated, "We are thrilled to introduce our Talent Strategy Consulting offering to businesses across the United States. At Humareso, we firmly believe that a company's success is directly tied to the quality of its talent and its ability to effectively manage and develop that talent. Our experienced consultants are passionate about partnering with organizations to unlock their full potential, and we are excited to help our clients build high-performing teams that drive sustainable growth and success."
About Humareso
Humareso is a leading provider of human resources solutions, offering a range of services designed to empower organizations in the areas of talent management, employee engagement, leadership development, and more. With a team of experienced HR professionals and a commitment to excellence, Humareso partners with businesses to optimize their HR strategies and drive sustainable growth. For more information, visit https://humareso.com.
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