Dutch recruitment software firm Textkernel, backed by private equity firm Main Capital Partners, has acquired US rival Sovren, Main Capital Partners said, a deal that aims to expand its business across North America and Asia Pacific and strengthen its technology base.
Sovren, based in Texas and which delivers a similar artificial intelligence software to Textkernel, will boost the Dutch firm’s position in the so-called “search and match” technology used by recruiters to screen candidates, its private equity owner Main Capital Partners said in a statement.
The deal is valued at 30 million to 40 million euros ($34.01 million – $45.35 million), said a market source.
“We expect to become more active in the United States in the short to medium term […] we see great potential for many of our European platforms to roll out operations in the United States through buy-and-build strategies,” said Main Capital’s managing partner Pieter van Bodegraven.
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