Staffing & VC backed HR Tech acquisition announcements!

Here are 7 deals to wrap up May and kick off June. The Kelly Services - Motion acquisition is done, HCLTech pays big for an HP divestiture, two VC backed AI platforms merge and more! 

May & June Deals

HCLTech buys an HP Communications divestiture - IT Consulting.
This is a mega IT solutions acquisition that involves 1000s of IT professionals and contractors. For $225M HCL Technologies buys a segment of Hewlett Packard Enterprises' Communications Technology Group. The deal will finalize in six months after regulatory approval and will be added onto HCL's growing telecom practices.

BCS acquires Allegient Defense Staffing - IT Staffing.
NowVertical Group's Allegient Defense staffing business which services the US federal government has been sold for $12.5M and is now called BCS Allegient. BCS leans into servicing more government contracts and NowVertical Group refocuses attention on data analytics and AI solutions. $4M of the purchase price is tied to hitting revenue milestones. 

Alliance Strategies expands global reach with acquisition of Stepwest - Temp Staffing.
Alliance Strategies adds Canadian based cultural exchange programs and work travel programs with their acquisition of Stepwest. The acquisition expands Alliance into Canada and via their internatiol work exchange programs into places like Australia, Japan, and the UK. 

Humanly acquires Teamable - HR Tech.
There's many references to “AI” and “end to end talent solutions” in the merger announcement of these two VC backed players. It's not yet clear how Teamable's AI powered CRM will fit within Humanly, but both companies share the mission to eliminate manual work involved in the candidate sourcing, communication, and hiring process by using AI, analytics, and integrating their top of funnel platform into your ATS. 

Kelly Services acquires Motion Recruitment - Staffing.
This $480M deal announced a month ago has closed. Motion will continue to operate it's six brands now under Kelly ownership. 

Chronus acquires employee-engagement platform, Imperative - HR Tech
Chronus was acquired by PE and raised $72M of debt financing in 2021. They have now acquired a complementary employee mentoring and engagement platform, Imperative (raised $6.4M VC in 2020).

Accurate Background acquires Orange Tree Employment Screening - Background Checks
Accurate Background expands services, client base, and geographies by acquiring Orange Tree Employment Screening. 

Did you read about any other deals we may have missed? If so, please reply with details. LongBoard will review and add our commentary in next week’s M&A brief!

ALSO, if you ever want your company name to appear in one of these headlines, The LongBoard Group would love to help!

More deals to come.

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