The $100 million acquisition – Randstad acquires RiseSmart
Randstad has acquired RiseSmart, leading provider of contemporary career transition services that strengthen employer brands, improve retention and re-engage talent for a $100 million. With this acquisition, Randstad has also acquired the chance for an investment in emerging technologies in an increasingly evolving HR services industry.
As stated by Linda Galipeau, Randstad’s CEO North America and Executive Board member of Randstad Holding nv, “The HR technology landscape is rapidly changing, requiring more innovative and advanced solutions. We are very excited to invest in RiseSmart, which is challenging the traditional model of offerings in the marketplace today and transforming how employers interact with talent. RiseSmart is a natural complement to our total suite of services in the sourcing, onboarding and management of talent. By adding RiseSmart to our mix, we are looking forward to further strengthening our position as a true HR partner for all phases of the talent lifecycle, everywhere we operate.”
According to Sanjay Sathé, RiseSmart founder and CEO with 20+ Years of success in driving startup and global growth strategy, “the acquisition is set to combine RiseSmart’s entrepreneurial spirit, outplacement expertise, technology portfolio and key talent with Randstad to create a leading global outplacement business. As a standalone company we disrupted the outplacement industry with our technology-led offering and enjoyed enormous growth. Now, with Randstad’s extensive customer base, global reach and comprehensive services portfolio, we can transform how employers transition talent, protect employer brands and reduce risk — on a massive scale."
Led by President and Chief Executive Officer Sanjay Sathé, RiseSmart will operate independently, whilst complementing the Randstad service offering.