StepStone, a provider of Software-as-a-Service (SaaS) Talent Management offerings, has signed a binding agreement to acquire an e-recruitment software provider MrTed, to expand its product line and strengthen SaaS capability.
The company said that the acquisition will add substantial new revenue stream, expand its customer base worldwide and will bring-in leading-edge technical capabilities in terms of product architecture and future development capabilities.
According to StepStone, MrTeds TalentLink, is a fully SaaS-based offering, is recognised for a high level of innovation in its architecture, and is also known for the latest ‘Cloud 9’ release. The ‘Cloud 9’ offering consists advanced cloud architecture, application portability and dynamic user interface
MrTed has operations in the US, UK, France, Germany, Netherlands, China and Poland. StepStone expects this acquisition tostrengthen its offerings internationally and enhance its services to global customers.
Jerome Ternynck, CEO of MrTed, said: "As the industry consolidates, integrating the MrTed business into StepStone offerings makes a lot of sense for both sets of customers and provides a safe pair of hands for the future.
"It creates a powerhouse software company with a truly global footprint, an unmatched product set and great financial strength."
