PRO Unlimited to Acquire Workforce Logiq via Agreement with EQT Private Equity to Create Leading Global Workforce Management Solutions Provider
PRO Unlimited, a leading modern workforce management platform provider, today announced that, through an agreement with EQT Private Equity, it will acquire Workforce Logiq from funds managed by Carlyle later this year, subject to customary regulatory approvals. This transaction will combine two leading-edge companies that share a common strategic approach in solving its diversified clients’ contingent workforce management needs through the power of a holistic platform. This combination will expand PRO’s position as a preferred provider to the Global 2000, enabling organizations to achieve their strategic talent acquisition and cost reduction objectives.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210817005673/en/
Through these transactions, PRO will add Workforce Logiq’s proven and strong track record of innovation and growth, including 16 patented and patent-pending solutions, dedicated data science and development teams, and an award-winning Total Talent Intelligence® technology platform to its portfolio. Additionally, Workforce Logiq’s strong presence in EMEA, specifically in the Nordics, expands PRO’s already impressive global reach. As a result, PRO will enhance the scale and breadth of operations to enable the continued global expansion of its large and mid-market client base worldwide.
“Bringing Workforce Logiq into the PRO Unlimited family will allow us to extend our reach and synthesize two like-minded entities that share the same strategy and platform approach to contingent workforce management,” said Kevin Akeroyd, CEO at PRO Unlimited. “The addition of its software and services into our platform will continue our tradition of eliminating the need for costly and inefficient point solutions to manage contingent labor. The result is a more optimal experience for clients looking to modernize mission-critical non-employee workforce programs, which have now become a top four spend category in most corporations.”
Many of the largest and most sophisticated enterprises in the world rely on PRO and Workforce Logiq’s software and services to achieve greater efficiencies, cost savings, and talent quality in the 50% of the workforce that is contingent (non-full-time).
“We are thankful for the leadership of Carlyle these past four years, and grateful for their counsel and strategic investments that have fundamentally transformed our company,” said Jim Burke, CEO at Workforce Logiq. “We continue our transformation journey with PRO. As one company, we will create a new choice for a scaled, global platform serving clients virtually anywhere in the world, continue to reimagine how companies achieve greater management, performance, and financial control over their workforce and talent supply chains, and offer our employees new opportunities for professional growth.”
The transaction is subject to customary conditions and approvals. It is expected to close in late Q3 2021. PRO was advised by Sidley Austin LLP. Jefferies LLC served as exclusive financial advisor to Workforce Logiq, and Latham & Watkins served as legal advisor.
About PRO Unlimited
PRO Unlimited offers the industry's most comprehensive and holistic platform for contingent workforce management, and helps organizations around the world address the costs, risks and quality issues associated with managing the non-employee workforce. PRO's platform consists of integrated SaaS software and services solutions that are built on the world's most robust contingent workforce data set, spanning over 30 years. A pioneer and innovator in the industry, PRO's platform provides solutions for the procurement and management of contingent labor, global rate intelligence, direct sourcing, 1099/co-employment risk management, third-party payroll, and diversity and inclusion. http://www.prounlimited.com
About Workforce Logiq
Workforce Logiq, a global provider of AI-powered workforce intelligence, technology, and services to large corporations, enables organizations to win and retain the talent they need to grow. Workforce Logiq provides its global client base with expert guidance, real-time and predictive analytics, and patented and award-winning technologies to help clients attain greater management, performance, and financial control over their talent supply chains.
Workforce Logiq was ranked the #1 global MSP provider for customer satisfaction for two consecutive years in HRO Today’s Baker’s Dozen Rankings. For more information, visit www.workforcelogiq.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210817005673/en/
Contact information
Media contact
Brad Martin, Head of Global Marketing, PRO Unlimited
bmartin@prounlimited.com
904-614-9719
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
flatexDEGIRO Starts Into Expected Record Year 2024 With a Jump in Revenues and Earnings25.4.2024 20:19:00 CEST | Press release
flatexDEGIRO starts into expected record year 2024 with a jump in revenues and earnings Revenues increased by 25% to € 123 million (Q1 2023: € 98 million) flatexDEGIRO benefits from both rising interest income and a significant increase in commission income per transaction EBITDA improves by 177% to € 54 million (Q1 2023: € 19 million) Consolidated net profit increases by 340% to € 30 million (Q1 2023: € 7 million) 121,000 new customer accounts in Q1 2024 increase customer base to over 2.8 million (March 2023: 2.5 million) Net cash inflows of € 1.8 billion in Q1 2024 Revenues and consolidated net income in 2024 expected to be at the upper end of the guidance corridor (revenue growth of 5-15% and increase in consolidated net income of 25-50%) For the first time, the Management Board and Supervisory Board will propose to the upcoming Annual General Meeting the authorization to buy back up to 10% of the share capital as well as an additional dividend of 4 cents per share Dr. Benon Janos,
OpenGate Capital Completes Sale of SMAC25.4.2024 19:14:00 CEST | Press release
OpenGate Capital (“OpenGate”), a global private equity firm, announced today that it has completed the sale of SMAC, a provider of waterproofing and building envelope systems, to Compagnie Financière Jousset (“CFJ”) and the SMAC management team. Terms of the transaction were not disclosed. SMAC was established in 1884 and has grown into a leader in the French waterproofing and facades market. OpenGate acquired the business in 2019 from Colas Group, a subsidiary of Bouygues SA. Following the carve-out and stabilization of SMAC in the first year of investment, OpenGate embarked on a three-prong approach to sell the manufacturing (“Industrie”) business lines in 2020 and 2021 and achieved the following results: March 2021: Axter (membranes business) was sold to IKO April 2021: Skydôme (skylights business) was sold to Kingspan January 2022: Résipoly (resins business) was sold to MAPEI After the disposals of the Industrie business lines, SMAC was then able to focus on its core “Travaux” (ins
Farcana Announces Gateway: Showdown - Playtest Kicks Off April 30th, with a 1,000,000 $FAR token prize pool!25.4.2024 17:40:00 CEST | Press release
Farcana, a highly anticipated competitive, team-based hero shooter, announces Gateway: Showdown, a public playtest event taking place from April 30th to May 4th, 2024. This playtest serves as a crucial opportunity for Farcana to gather valuable player feedback, showcase the latest iteration of the game before its official launch and offer players a chance to claim a portion of the 1,000,000 $FAR token prize pool. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240425936808/en/ Farcana Announces Gateway Showdown - Playtest Kicks Off April 30th, with a 1,000,000 $FAR token prize pool! (Photo: AETOSWire) Gateway: Showdown welcomes all aspiring heroes with a signup process designed for ease and accessibility. Players can visit the official Farcana website at https://www.farcana.com to download the game client, create an account, and be automatically enrolled in the playtest. Every match played during the event will contribute to
Antognolla at International Hospitality Investment Forum: Growing Interest in the Italian Market from Hotel Operators and Investors25.4.2024 16:39:00 CEST | Press release
Antognolla Resort & Residences joined world-class hospitality experts at the Hospitality Investment Forum EMEA (IHIF EMEA) on 15-17 April in Berlin. With over 2,500 attendees this year, IHIF EMEA remains one of the largest gatherings of industry professionals in the region. Hospitality experts and event participants reaffirmed the growing interest among hotel operators in Italy, evident from the number of prestigious international brands entering the Italian market. The hospitality market in the country is becoming more identity-driven, with the majority of hotel keys in the upscale and luxury category being branded. International operators are increasingly attracted to the country year by year: almost 70% of the properties in the pipeline will belong to international chains by 2026. Andrey Yakunin, Chairman of the Board of Directors of Antognolla Resort & Residences commented: “As international experts discussed during IHIF, identity-driven, branded projects are set to become the lead
Digital Transformation’s Next Era: Generative AI and Laserfiche 12 at 2024 Empower Conference25.4.2024 16:30:00 CEST | Press release
Preparing organizations for the next AI-driven phase of digital transformation is on the agenda at the 2024 Empower conference, hosted by Laserfiche — the leading SaaS provider of intelligent content management and business process automation — in Las Vegas through April 25. Laserfiche shines a spotlight on solutions that reduce complexity and accelerate information flow across the enterprise to help organizations manage increasing amounts of data. Empower attendees got an early look at the latest Laserfiche AI features, including Laserfiche AI Document Summarization. The new offering, powered by generative AI, eliminates tedious sifting through documents by generating concise summaries of documents containing either text or transcribed audio. Laserfiche AI Document Summarization, which represents one milestone in the Laserfiche AI vision to transform the workplace, will be available in the upcoming Laserfiche Cloud release on April 30, 2024. “At Laserfiche, we believe AI will impact p