Impellam Group plc Acquisition of AI Powered Staffing Platform
July 09 2019 - 4:32AM
RNS Non-Regulatory
TIDMIPEL
Impellam Group plc
09 July 2019
LONDON, UK, 9(th) JULY: IMPELLAM GROUP PLC ACQUIRES FLEXY, AN AI
POWERED STAFFING PLATFORM
Impellam Group PLC, the 2(nd) largest staffing business in the
UK and 6(th) largest MSP worldwide has acquired Flexy Corporation
Limited (www.flexy.com), a leading flexible staffing platform based
in London.
Founded in 2015, Flexy uses psychometrics, machine learning, and
nudge theory to unlock local talent. It was designed and built by a
team of psychologists, recruitment experts, and digital architects
to streamline the casual labour market. Flexy enables meaningful
connections between companies looking for flexible labour and
individuals looking for flexible work.
Flexy provides an innovative, data-driven analysis platform to
provide insights and consumer-grade digital experiences. The
efficiency gained through the utilisation of technology combined
with Impellam's deep staffing experience will augment our portfolio
and service offering to customers and candidates.
Impellam will pay approximately GBP3 million in cash for the
business up front, which generated revenue of GBP626k in the
financial year ended 30(th) April 2019 and has achieved compound
annual growth of 175% over the past two years. Additional
consideration may be payable to the vendors of Flexy subject to
achievement of future performance conditions.
Oliver Crofton, Managing Director, Flexy, added: "We are
delighted to be joining Impellam and to sit alongside such trusted
recruitment brands. We developed Flexy to help companies leverage
the power of technology to reach local candidates, and now with the
backing of Impellam, we can accelerate our growth in this exciting
and evolving recruitment landscape".
Julia Robertson, Group CEO, Impellam Group: "The strategic
partnership with Flexy combines digital capabilities and
technologies with our current portfolio's deep heritage and
expertise; to offer new solutions, more choice, and better,
technology-led experiences for customers and candidates alike".
- Ends -
For further information please contact:
Impellam Group plc
Julia Robertson, Group Chief Executive Tel: + 44 (0)1582
692658
Cenkos Securities plc (NOMAD and Corporate Broker to
Impellam)
Nicholas Wells Tel: +44 (0)20 7397 8900
Callum Davidson
Note to Editors:
Impellam is the second largest(1) staffing company in the UK and
sixth largest(2) Managed Services provider worldwide. Our vision is
to be the world's most trusted staffing company - trusted by our
people, our customers and our investors in equal measure. We
provide Managed Services and Specialist Staffing solutions across
the UK, Europe, US, the Middle East and Australasia. We have over
3,200 Impellam people throughout our network of 17 market-leading
brands across 165 worldwide locations. Impellam Group's mission is
to provide fulfilment and a sense of purpose to our people and to
help customers build better businesses in a changing world.
For more information about Impellam Group please visit:
www.impellam.com
1 By revenue (2017 published numbers)
2 By SUM (confirmed by Staffing Industry Analysts. Spend Under
Management (SUM) is the total amount of client expenditure which
our Managed Services brands manage on behalf of their clients. This
equates to revenue earned where Impellam acts as principal plus
gross billings to customers where Impellam acts as agent (2017
published numbers). Management use this measure as it reflects the
total value of the client spend to the Group and not just the
revenue generated
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END
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July 09, 2019 04:32 ET (08:32 GMT)
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