London/Texas 2 August 2010

StepStone Solutions, a global leader in Software-as-a-Service (SaaS) Talent Management solutions, has signed a binding agreement to acquire privately-owned e-recruitment software provider MrTed.

Over 100 customers use the MrTedTalentLink product to recruit staff across 100 countries and over 90% of MrTed’s current revenues come from ‘Global 500’ businesses, including large Recruitment Process Outsourcers (RPOs). The acquisition accelerates StepStone Solutions’ global growth, extends its product set and strengthens its SaaS capability.

“For our customers and staff this is extremely exciting. Looking forward, the strength of both companies will enhance the experience and means by which business managers interact with their talent and HR colleagues, generating greater value for their businesses,” said StepStone Solutions CEO, Matthew Parker. “This combination creates an even stronger player with unique capabilities to meet customer needs in terms of global reach, financial strength and product set. Following our recent MBO in conjunction with HgCapital, this is an important milestone in our ambitious plans for expanding and developing StepStone Solutions.”

The acquisition accelerates StepStone Solutions’ global growth, adds a substantial new revenue stream, expands its customer base worldwide and brings leading-edge technical capabilities in terms of product architecture and future development capabilities. MrTed has operations in the US, UK, France, Germany, Netherlands, China and Poland, substantially strengthening StepStone Solutions’ international presence and ability to service truly global customers.

"This acquisition marries StepStone Solutions' global execution expertise and infrastructure with MrTed's thought leadership and true SaaS capabilities. This is a very welcome early demonstration of HgCapital’s commitment to the global Human Capital SaaS market," commented Naomi Lee Bloom, Managing Partner, Bloom & Wallace.

MrTed has built an impressive customer base since its founding in 1999, with global brands that include Heineken, Tommy Hilfiger and France Telecom. MrTedTalentLink, a fully SaaS-based offering, is recognised for a high level of innovation in its architecture, particularly in the latest “Cloud 9” release. “Cloud 9” has earned top marks from industry analysts like Gartner Group, (which positioned MrTed in the “Visionaries” quadrant of the 2009 Magic Quadrant for e-Recruitment Software), and Bersin & Associates because of the solution’s advanced cloud architecture, application portability and dynamic user interface.

“As the industry consolidates, integrating the MrTed business into StepStone Solutions makes a lot of sense for both sets of customers and provides a safe pair of hands for the future. It creates a powerhouse software company with a truly global footprint, an unmatched product set and great financial strength,” said MrTed CEO, Jerome Ternynck, who will continue to work with StepStone Solutions in an advisory capacity.

Last update : 19-08-2010 05:17

Keywords : Stepstone Solutions to Acquire MrTed, recruitment solutions, SaaS software

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