|By Marketwired .||
|January 14, 2014 02:02 PM EST||
SAN FRANCISCO, CA -- (Marketwired) -- 01/14/14 -- ArchPoint Partners today announced that it has advised PeopleAnswers, a leading provider of predictive talent analytics, on its acquisition by Infor, a provider of business application software serving more than 70,000 customers. PeopleAnswers' Software-as-a-Service (SaaS) based talent science platform is used by companies ranging from the Fortune 500 to the mid-market to optimize hiring, promotion, learning, and compensation processes. PeopleAnswers' customers often achieve significant, measurable increases in employee performance as well as reductions in overall employment turnover when using PeopleAnswers. ArchPoint Partners acted as the exclusive financial advisor to PeopleAnswers in this transaction.
"ArchPoint's exceptional access to buyers and investors, and their ability to strategically position our company, made for a highly competitive acquisition process that resulted in an optimal outcome. We couldn't be happier with the process and the results ArchPoint delivered," said Gab Goncalves, CEO of PeopleAnswers.
The acquisition of PeopleAnswers will add a new layer of intelligence and predictive capability to the Infor HCM suite. PeopleAnswers' unique approach uses behavioral science to achieve results by tying performance metrics to key behaviors of top employees that enables companies to hire, reward, and promote their best performers.
"The discipline of HR is hungry to embrace predictive and analytical tools. PeopleAnswers has pioneered the field, developing a patented, cloud-based product available in 16 languages that has become the front-runner in a fast-growing marketplace," said Charles Phillips, CEO of Infor. "Through this acquisition, we will not only expand our HR offering, but we will add some of the brightest minds in the software industry... Infor HCM has been called the deepest and widest offering; now it is the smartest as well."
"This transaction highlights a broader trend in the software industry, where vendors are looking to unlock the power of 'Big Data' and analytics to make their software more predictive, more intelligent and ultimately, more differentiated from their competitors. With this acquisition, Infor now has a strategic advantage in what is a competitive HR software market," said Dan Williams, Managing Director of ArchPoint Partners.
PeopleAnswers' customers include global brands such as Audi, Foot Locker, Gold's Gym, Hertz, Nieman Marcus, and The Cheesecake Factory. The two companies have 80 mutual customers in a wide range of industries, such as manufacturing, healthcare, hospitality, restaurants, retail, financial services, insurance, and logistics.
Financial terms of the transaction are not being disclosed.
About ArchPoint Partners
ArchPoint Partners is a global, independent investment bank that provides strategic and financial advice to senior management and the boards of directors of leading growth companies in the technology and media sectors.