Bond International Software merges with Boston-based Erecruit
Boston-based Erecruit™, an innovator in enterprise staffing software, VMS and onboarding solutions for large staffing firms, is merging with Bond International Software.
This merger will increase Erecruit and Bond’s operational scale, extend geographical reach across the United States, Europe and Asia, will more than double the size of the employee base, and expand the product portfolio. The companies will continue to invest in their core flagship products and lead the market in product innovation. David Perotti, the Chief Executive Officer of Erecruit, will assume the role of the Chief Executive Officer of the merged organization.
Symphony Technology Group (STG) will become the majority owner of the combined entity. North Bridge Growth Equity will retain a minority ownership stake.
William Chisholm, managing director and chief investment officer at STG, said, “STG’s significant investing experience in the HCM space has given us a unique perspective into trends shaping the industry such as the escalating war for talent, the consumerization of recruiting and the rapidly shifting online recruiting landscape.
“Our acquisition of Bond was the first step in our goal of building a market leading provider of innovative and differentiated software and analytics to help the staffing industry navigate these trends. With the acquisition of TempBuddy and now, the merger with Erecruit, we are continuing down the path of realizing that vision.”
Sunit Mukherjee, principal at STG, commented, “The combination of Erecruit and Bond brings two established companies together to handle the complete needs of the global staffing industry. The combination will have an unmatched track record in both the enterprise and mid-market segments, and will offer the most comprehensive global staffing software platform available. We believe that both Bond and Erecruit’s customer bases will benefit from the suite of complementary products and added scale of the platform, which will allow the company to innovate at a faster pace. We are excited for the combined potential of the two companies and look forward to working with Dave Perotti and his team moving forward.”
David Perotti, chief executive officer of Erecruit, added, “The merger with Bond combined with the STG partnership positions the combined company as a stronger and more scalable player with the ability to serve the needs of the global staffing industry.
“It is a ‘win win’ for all customers as the now global company will be focused on innovative product development, increasing customer satisfaction and improving support.”
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