PRO Unlimited acquires compensation data company PeopleTicker
PRO Unlimited, a contingent workforce management solutions provider, is acquiring PeopleTicker, a data analytics provider with a focus on procurement, human resource and IT professionals , for an undisclosed amount.
Together, the two companies’ technologies will enable HR, talent acquisition, procurement and compensation professionals to access strategic insights and market rate benchmarking in an effort to better attract and retain talent, while also lowering their overall costs.
“Now more than ever, companies are seeking ways to win the war for talent. They need to lower spend, reduce complexity and source the best talent possible given the massive acceleration – globally – of the contingent workforce segment,” Kevin Akeroyd, CEO of PRO Unlimited, said in a statement announcing the acquisition. “This acquisition strengthens our comprehensive data, software and services platform while delivering the innovation that the industry has been waiting for.”
Through this acquisition, PRO is expanding the capabilities of its contingent workforce management platform through PeopleTicker’s data science and market rate intelligence resources. PeopleTicker uses machine learning and crowdsourcing to assemble comprehensive, accurate, current global market rate data from the industry.
“Harnessing the power of data and analytics and making it easily accessible to companies provides them with a unique competitive advantage,” Joseph Musacchio, CEO of PeopleTicker said in a statement. “PRO Unlimited was the clear choice when searching for an organization to deliver our technology to the world. ”
Global M&A activity took a hit for most of 2020 thanks to the coronavirus, but saw a rebound in the fourth quarter, according to Willis Towers Watson’s Quarterly Deal Performance Monitor. There were 674 deals valued over $100 million in 2020, significantly less than the 774 deals from the previous year. However, the QDPM data revealed a sharp rise in volume in the final quarter with 246 deals completed worldwide, compared with 210 in Q4 2019.
This resurgence has been driven by a strong uptick in activity by North American buyers with a record 136 deals for the final quarter, matched by the region’s first positive quarterly performance — 5.9 percentage points — in three years.
“2020 was unlike anything we’ve ever seen, fueled by an enduring pandemic, massive economic uncertainty, a highly divisive U.S. presidential election and rising geopolitical tensions,” Duncan Smithson, senior director of M&A at Willis Towers Watson, said in a statement. “Pent-up demand, ample funding, ultralow interest rates and confidence returning to boardrooms indicate conditions are ripe for one of the biggest M&A years on record.”