After a successful two-year partnership, US-headquartered Ceridian has decided to acquire Toronto-based Ideal for an undisclosed sum.
As a result of the transaction, Ceridian will integrate Ideal’s talent intelligence machine learning (ML) software into Dayforce, its broad human capital management (HCM) solution. Ideal’s software helps companies to automate recruitment-related admin, as well as and screens and matches appropriate talent to job roles.
Ceridian will also have access to Ideal’s diversity, equity and inclusion intelligence system, which aims to remove bias from recruitment.
Talking about the acquisition, Ceridian chief product and technology officer Joe Korngiebel said:
“Together with Ideal, we stand to further our vision to make work life better by empowering our customers to make smarter, more efficient talent decisions and improve equity across their workforces.
“Today’s announcement reinforces that we continue to not just meet the needs of organizations today, but well into the future.”
“We’re excited to take our innovation, fueled by artificial intelligence and ML, to a broader, global audience by joining forces with Ceridian, a recognized industry leader,” said Shaun Ricci, Chief Operating Officer and Co-founder, Ideal.
As a result of the deal, Ideal’s team will remain in Toronto and focus on applying ML and artificial intelligence to Ceridian’s enormous HR data sets. This will help to bring improvements to Ideal’s product and differentiate Ceridian’s Dayforce platform from competitors.
This purchase comes a month after Ceridian closed its acquisition of Ascender to strengthen its footprint in Asia Pacific and Japan (APJ).
As a result of the deal, Ascender’s HR and payroll capabilities were also integrated into the Dayforce solution.
Ceridian CEO and chairman David Ossip added: “The acquisition of Ascender will strengthen our leadership in the APJ region, accelerate our global growth strategy, and deliver even greater value to our customers.”