Hot on the heels of isolved’s acquisition of Givful, French business management solution provider Cegid has announced plans to acquire Talentsoft. The acquisition will now require approval by the appropriate regulatory authorities before it can be completed.
Cegid hopes that buying Talentsoft, which is also based in France and focused on payroll and employee management, will strengthen and consolidate its position in the European HR tech market. Talentsoft also has a presence in Spain and Portugal, as well as Northern Europe.
“The acquisition of Talentsoft will allow us to accelerate our strategy to serve human resources clients, who form one of Cegid’s five priority markets,” commented Cegid CEO Pascal Houillon.
Sitting alongside its retail solutions, Cegid’s cloud-based HR management stack focuses across the employee journey, starting with talent acquisition, and moving across towards employee performance management, as well as career and succession planning, and learning and development.
As a result of the acquisition, Talentsoft’s entrepreneurial founders — CEO Jean-Stéphane Arcis, CFO Joel Bentolila, and product director Alexandre Pachulski — and its 600 employees will join Cegid within the next few weeks.
Talking about the deal, Talentsoft said: ““This merger comes at a perfect time in Talentsoft’s development.
“The synergies are obvious, both in terms of the solutions we offer and the geographical areas in which we operate.
“With Cegid, we will strive to continue this magnificent adventure, which is a great source of pride, serving our clients and conquering new markets.”
The start of a promising Q2 2021
The announcement comes amid a healthy number of HR tech deals and funding rounds. US upskilling platform Degreed recently raised $153m in a Series D round, bringing its total funding to $335 million, and joining the HR tech club.
In March, Beekeeper acquired Lua to cement its dominance of the frontline worker space, while Phenom, a new HR tech unicorn, bought German video platform Talentcube.
In addition, Q1 saw lots of investment and venture capital activity. Work Tech’s latest report found that Q1 saw record investment into HR tech, with companies operating in the space raising a total of $2.57 billion across 90 deals.