Workforce management solutions provider PRO Unlimited has boosted its M&A streak with its second acquisition in less than a month.
PRO Unlimited, which provides organizations with resources to address the costs, risks and quality issues associated with managing a contingent workforce, has acquired Brainnet Group, a Netherlands-based company that provides employers with cost saving plans, process optimization and high-quality talent across their contingent workforce management programs. The value of the deal was not disclosed.
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"This acquisition allows us to provide additional services and support to our global client base,” Kevin Akeroyd, CEO of PRO Unlimited, said in a release. “Lastly, it enables us to showcase the industry's most comprehensive contingent workforce management platform and consultative services to companies that need to easily scale and adapt to a fast-growing market.”
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.
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PRO’s acquisition increases will allow the company to expand their reach internationally, while also delivering additional solutions to Brainnet’s clients, such as third-party payroll and market rate intelligence. Brainnet Group’s existing contingent labor solutions will be folded into PRO’s umbrella of software and services the company currently offers to organizations across Europe, the Middle East and Africa.
In January, PRO Unlimited acquired PeopleTicker, a data analytics provider with a focus on procurement, human resource and IT professionals. The two companies’ technologies will provide access to 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,” Akeroyd said in a statement announcing the PeopleTicker acquisition. “This acquisition strengthens our comprehensive data, software and services platform while delivering the innovation that the industry has been waiting for.”
