SYDNEY, AUSTRALIA: LiveHire Limited (ASX: LVH) has entered into a conditional binding term sheet to acquire all of the business and assets of with Arrived Workforce Connections Inc. The aggregate purchase price is up to US$4 million, all of which will be paid through the issue of fully paid ordinary shares in the company.

Arrived Workforce has developed a shift management capability plus mobile application which matches workers to available work, based on preferences and skills.

Consistent with prior statements, the on-going strategic review has identified the opportunity to expand LiveHire’s technology capability to further address the extended workforce market.

The proposed acquisition extends the LiveHire’s capability into agile shift management and rapid redeployment addressing the needs of workers on shifts and short-term assignments. Shift workers can often be a significant component of the contingent workforce of Fortune 1000 companies and large enterprises in general.

Following completion of the acquisition, the LiveHire platform will integrate with Arrived Workforce’s shift management capability with mobile app to provide a comprehensive solution for placement of contingent and shift workers.

The proposed acquisition will expand LiveHire’s addressable market in key industry verticals including healthcare, manufacturing, and retail. LiveHire management estimates that 25-35% of its current US Direct Sourcing pipeline have some level of shift scheduling requirement.

The proposed acquisition of Arrived Workforce will also allow LiveHire to extend penetration into existing clients as well as unlock new clients who require shift scheduling.

The acquisition and accompanying organisational restructuring are expected to be net cashflow neutral over the 12 months post acquisition, through the combination of staff synergies and new deals.

LiveHire’s CEO Christy Forest said: “We are delighted to have an executive of Jennifer’s calibre and experience join the LiveHire team. The trust and confidence that Jennifer and her fellow Arrived shareholders have placed in LiveHire through this transaction is terrific validation of our strategy by people who understand the market and the opportunity very well.”

Antonluigi Gozzi, LiveHire Founder, Executive Director and current Chief Products and Technology Officer, will transition out of the executive role effective 22 February 2023 and remain employed until 8 July 2023. Antonluigi will also resign from his Board of Directors’ position at LiveHire effective 22 February 2023.

Antonluigi Gozzi said: “It has been a true honour to serve the shareholders of LiveHire, who have put incredible trust in the potential of our Technology from the very early days. I want to thank our Board Members and our incredible colleagues in the company, all of whom have shown immense talent and unwavering dedication to make our Vision a business reality: “To empower the flow of the world’s talent”.

With 8+ million profiles on the platform, hundreds of thousands of placements, and recognised product leadership in market, I am confident that the company has proven its path to success, especially in its ability to conquer the huge addressable market of contingent labour in US and EU.

After 12 years of tech and product leadership, driving innovation, platform agility and incredible platform security and scale, I decided to take some personal time to dedicate to my extended family and recharge. I have enormous confidence in the ability of the company to succeed under the leadership of Christy and stewardship of the Board. I am a very committed shareholder and I look forward to see the company succeed on the global stage with truly sensational clients and partners.