Randstad Digital Acquires AI-Powered Torc
May 20, 2024 – Randstad N.V. has announced that Randstad Digital has acquired Torc, a next-generation AI-powered talent marketplace platform with more than 25,000 digital talent enrolled worldwide, with a specific current emphasis on LATAM, the U.S., and India. Financial terms of the deal were not disclosed. This acquisition allows Randstad Digital to further accelerate clients’ access to digital talent, including global delivery centers, to meet its digital ambitions across cloud, data, digital engineering, and customer experience capabilities.
“The Torc acquisition strengthens Randstad’s partner for talent strategy in our digital specialization,” said Sander van’ t Noordende, CEO of Randstad. “Digital transformation needs access to specialized talent at scale and speed globally. Torc, with its enterprise-grade AI-powered talent marketplace, will redefine the talent experience, and speed of delivery, and strengthen Randstad Digital’s capabilities in enabling our client’s digital transformation.”
“As enterprises redefine the digital business model, the demand for specialized skills in AI, cloud, data, and CX, continues to increase,” said Venu Lambu, CEO of Randstad Digital. “The acquisition of Torc is a direct response to this evolution and client needs. It expands our access to a diverse range of talent skill sets and a robust developer community from assessment to productivity. We are extremely excited to welcome an industry thought leader in open talent platforms, Michael Morris, Torc CEO and co-founder, and his team to Randstad Digital.”
“Recognize is proud to have incubated Torc alongside a management team who are visionaries at the forefront of open talent platform innovation,” said Francisco D’Souza, co-founder and managing partner of Recognize. “As part of Randstad Digital, Torc will further accelerate the adoption of AI-enabled talent experience and delivery. Together, they will define the next-generation delivery model for technology and digital skills and services.”
Randstad is active in 38 markets around the world and has a top-three position in almost half of these. In 2020, Randstad had on average 34,680 corporate employees and generated revenue of € 20.7 billion. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands.
Randstad launched Randstad Digital last year to specialize in meeting the technology talent needs of multinational companies across a wide range of industries. The service was designed to help companies accelerate and enable enterprise-level transformations at scale, by providing access to premier talent, services, and solutions across four specialized domains: customer experience, cloud & infrastructure, data & analytics and digital & product engineering.
“Businesses trust Randstad with their toughest challenges, and now I’m confident that Randstad Digital’s agile model can constantly adapt to evolving client needs and business demands,” said Mr. Lambu. “The organization is uniquely positioned to guide clients through the uncharted waters of transformation, leveraging its comprehensive toolkit of capabilities to steer projects toward success. At Randstad, we see talent first, digital-first as dual priority becoming a key differentiator as businesses enter the next phase of their transformation. And our ambition is to provide them with the talent-driven digital solutions and services they will need to succeed.”
Recent Deals
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:
Hudson RPO, a global total talent solutions company owned by Old Greenwich, Conn.-based recruiting firm Hudson Global Inc., has acquired Striver, a Dubai-based executive search firm. Financial terms of the deal were not disclosed. “With the new acquisition of Striver in the United Arab Emirates (UAE), Hudson RPO is strongly equipped to partner with new and existing clients for their senior talent acquisition needs in the rapidly growing Middle East region,” the company said. “We are pleased to continue to expand and enhance our offering in the executive search space,” said Jake Zabkowicz, global CEO of Hudson. “This furthers our ability to become and remain a core strategic partner for our clients as we assist them in putting the right people in place at all levels of their organizations to develop and execute a winning business strategy.”
ZRG, a global talent advisory firm and portfolio company of RFE Investment Partners, has acquired Ignata Finance Group, a U.K.-based executive search & finance recruitment and interim placement business. Financial terms of the deal were not disclosed. “Partnering with Ignata will enable our European growth strategy both in private equity but across our shared global customers, especially in the U.K.,” said Larry Hartmann, CEO of ZRG. “Adding Ignata to the family of ZRG companies puts us another step closer to true global talent advisory.” Founded in 2017, Ignata partners with VC, PE, and listed organizations seeking chief financial officers and their teams. “We continue our commitment to build a world-class business, employing passionate consultants that are experts in their fields. The partnership with ZRG marks a pivotal moment in our global expansion,” said Ben Searls, founder of Ignata. “By joining forces with ZRG, we are not only enhancing our C-suite capabilities but also broadening our reach internationally.”
Paris-headquartered search firm Alexander Hughes has acquired Chicago-based DSML Executive Search. Financial terms of the deal were not disclosed. “The move marks a significant milestone in Alexander Hughes’ global growth strategy, positioning the firm as the global executive search and leadership firm of choice for businesses and corporations worldwide,” the search firm said. “The acquisition includes two new offices, one in Chicago and one in Boston.” In addition, Alexander Hughes will retain Myriam Le Cannellier, co-founder and director of DSML Executive Search, who becomes the managing partner of Alexander Hughes USA, and her team of experienced executive search professionals. “This acquisition marks a pivotal moment for our group,” said Julien Rozet, CEO of Alexander Hughes. “We are very proud to strengthen our presence in the U.S. and to have Myriam Le Cannellier and her team at the helm. Her expertise aligns perfectly with our commitment to deliver the highest standard of executive search and leadership advisory services globally.”
The Elevate Sports Ventures agency has acquired SRI and launched Elevate Talent, a new executive search and global talent advisory practice. The new firm will recruit senior leaders across sports, entertainment, media, lifestyle, technology, and gaming. Elevate is led by Al Guido, who also serves as president of the NFL’s San Francisco 49ers. Jim Chaplin, formerly CEO of SRI, will become global president of Elevate Talent. In his 14 years at the helm of SRI, Mr. Chaplin and his management team have spearheaded the firm’s transformation from a U.K.-based sports specialist firm to a global company in the executive search space, helping organizations with board structure, governance, and C-suite issues with talent and advisory solutions. “For the team at SRI, becoming part of Elevate feels like a perfect match,” said Mr. Chaplin. “We share a foundation in the world of sports and have used that particular vantage point to deliver for clients across a wide range of consumer-facing sectors. Our common experience, aligned to a rigorous, data-driven approach, gives us the tools to set organizations up for success.”
Related: Randstad Acquires Finite Group in Australia and New Zealand
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Executive Editor; Lily Fauver, Senior Editor – Hunt Scanlon Media
