October 19, 2022 – Paycor HCM Inc., a provider of human capital management (HCM) software, has acquired Talenya, an AI-driven recruiting platform. Financial terms of the deal were not disclosed. Talenya’s platform will allow Paycor customers to reduce time to fill critical roles by sourcing both candidates that are actively looking to change jobs and passive candidates that are not actively seeking a new role. In addition, the platform will help companies executing against their DEI strategy by placing an emphasis on diverse candidates that are often overlooked by traditional recruiting systems.
“Given the importance of recruiting and retaining top talent in this highly competitive labor market, Paycor is dedicated to giving leaders the technology and expertise they need to develop winning teams,” said Raul Villar, CEO of Paycor. “This AI-powered technology will enhance our industry-leading talent solution, making it even easier for frontline leaders to proactively find skilled and diverse talent quickly and cost effectively. We are excited to welcome Talenya to the Paycor family.”
“Finding, interviewing, and hiring qualified candidates quickly is one of the biggest challenges facing our customers today,” said Swati Garodia, chief strategy officer of Paycor. “Talenya’s virtual recruiter will enable our clients’ frontline leaders to attract, assess, and hire top talent faster, so they can focus more time on leading, coaching, and engaging their teams. AI recruiting is another strategic differentiation for our platform and another example of how Paycor continues to transform modern, cloud HCM.”
“We are proud of what the Talenya team has accomplished in the last few years,” said Gal Almog, co-founder and CEO of Talenya. “We are thrilled to join forces with Paycor, a leader in HCM, and help leaders find and hire the right talent in a more efficient way. Paycor, with its unique focus on frontline leaders, is the ideal partner to help us drive growth and scale.”
Paycor expects to begin offering an integrated solution in the first quarter of 2023.
Acquisitions and consolidations continue to make news in the recruiting industry, with a number of notable purchases in recent months. Here is a sampling from the Hunt Scanlon Media archives:
Arthur J. Gallagher & Co., one of the world’s largest consulting and risk management companies, has acquired global HR search firm Frederickson Partners. Frederickson Partners has locations in a dozen cities across the U.S., including San Francisco, New York, Dallas, Chicago, Los Angeles and Nashville, and also serves global tech hubs in London, Berlin, Paris, Mexico City, Bogota, Seoul and São Paulo. Founder Valerie Frederickson and her team will continue to operate under the direction of Scott Hamilton, global managing director, human resources and compensation consulting for Gallagher’s employee benefits consulting and brokerage operations. “Frederickson Partners will expand Gallagher’s executive search capabilities across all industries and offers us significant opportunities for collaboration and growth,” said J. Patrick Gallagher Jr., chairman, president and CEO. “I am very excited to welcome Valerie and her team to our growing, global company.”
Diversified Search Group (DSG), a leading search firm backed by private equity firm ShoreView Industries, has acquired Alta Associates, a Flemington, NJ-based search firm founded by Joyce Brocaglia specializing in cybersecurity, IT risk management, and data privacy. Hunt Scanlon Ventures, based in Greenwich, Conn., facilitated the introduction and transaction between both organizations. “This is a strategic acquisition that will add significantly to our business offering in a key field that touches every client we serve,” said Aileen Alexander, CEO of Diversified Search Group. “Cybersecurity, data privacy, and resiliency are top priorities for boards and senior leadership across every sector of our economy.
Excel Sports Management, an industry-leading sports agency, has agreed to acquire sports and entertainment executive search firm Nolan Partners. London-based Nolan Partners will continue to be led by chief executive officer Paul Nolan and president Chad Biagini while operating as a new vertical within Excel’s properties division. Primarily focused on senior executive and board level roles, Nolan Partners works on a global basis with clients that range from sports teams, governing bodies, professional leagues, venues, agencies, broadcasters, and other corporate organizations in sports. The firm also has a performance practice that focuses on placing general managers/sporting directors, sports medicine, sports science, and recruitment specialists.
Haddonfield, NJ-based True, a global executive talent management platform, has acquired climate technology and sustainability executive search firm Hobbs & Towne, Inc. (HTI). Led by Andy Towne and Bob Hobbs, HTI will continue to serve its clients and provide a greater range of capabilities under True. True, one of the fastest growing search firms of the past decade, reported global revenues of $116.5 million last year. The firm placed No. 7 in the Hunt Scanlon Top 25 rankings. Hobbs & Towne ranked No. 24 and was crowned the fastest growing search firm of the year, reporting a 59 percent growth rate.
ZRG Partners, a leading search firm backed by private equity firm RFE Investment Partners, has acquired boutique strategy consulting firm Brimstone Consulting Group LLC. Financial terms of the deal were not disclosed. “The complementary nature of our businesses made Brimstone an obvious partner for ZRG, as we continue to expand our portfolio of talent advisory solutions,” said Larry Hartmann, CEO of ZRG. “Further ensuring a new CEO is successful with the proven process of Brimstone will create a new paradigm for CEO transitions.”
Korn Ferry has entered into a definitive agreement to acquire Lucas Group. “This combination is the right move at the right time,” said Korn Ferry CEO Gary D. Burnison. “Today’s workscape is being transformed before our eyes – people working anywhere, everywhere and at any time. Professionals are on the move. Boomers are retiring, and career nomads are looking for change – early and often. We are seizing this opportunity to help clients find the right talent who are highly agile with specialized skills and expertise to help them drive superior performance.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media