MELBOURNE, AUSTRALIA: AD1 Holdings Limited, a technology company with a growing portfolio of market-leading software businesses, has entered into a share sale agreement for the acquisition of Scout Talent Group.
Scout Talent Group is a leading Australian-based software-as-a-service (‘SaaS’) talent acquisition software provider for a total consideration of $65 million.
Scout is the market leader in talent acquisition software, enabling the highly lucrative mid-market to move from reactive to strategic talent acquisition.
On the Acquisition, AD1 CEO, Brendan Kavenagh, commented “AD1’s strategy has been focused on delivering new and attractive SaaS verticals, specifically in the global online HR talent acquisition and staff development markets.
As a growing number of organisations digitise and streamline their recruitment process, Scout’s complimentary technology is transformative for AD1, further strengthening our offering by providing instant scale and significant opportunities with the ability to up-sell and cross-sell our existing products to new and existing customers and markets.
Scout is the market leader in Talent Acquisition and Management Software with strong capabilities and an expansive footprint across Australia and North America within a highly fragmented market providing opportunities to increase our customer base and expand into new verticals.
We are delighted that the key Board and Management of Scout will be joining AD1, who will be integral to successfully integrating the business into our existing operations.”
Managing Director of Scout, Tudor Marsden-Huggins said: “We are delighted to become a part of AD1. Scout Talent has a fantastic team enjoying great success to date. We look forward to accelerating our growth under the AD1 umbrella and believe the alignment of culture and values, along with our combined SaaS products and customer synergies will enhance our overall offering to become the dominant provider of HR Tech products and services.”