Kelly Services acquired RPO provider RocketPower with the idea of expanding its recruitment process outsourcing offering around the world and creating growth opportunities in the high-technology industry.
Under the acquisition agreement, RocketPower’s leadership team and staff will become part of KellyOCG, Kelly’s outsourcing and consulting business. However, RocketPower will continue to operate under its own name..@KellyServices acquired RPO provider @RocketPowerIT with the idea of expanding its offerings and creating growth opportunities. #HR #HRTech Click To Tweet
Kelly CEO Peter Quigley said the deal was “a compelling proof point” of the company’s strategy for the Asia-Pacific region and to “unlock capital and redeploy it to add high-margin, high-growth assets to our core businesses.” In addition, he said, RocketPower’s “strategy and emphasis on RPO and high-tech talent aligns with our growth priorities.”
Matthew Caldwell, RocketPower’s founder and CEO, said the acquisition will position both companies to become “a force to reckon with in the RPO market.”
A $5 Billion Market
According to Kelly, RPO is one of the fastest-growing outsourcing markets in the world, experiencing double-digit growth rates during the past few years. Projections for the 2022 global RPO market are expected to exceed $5 billion, surpassing pre-pandemic levels.
The company said the industry’s exponential growth rate can be attributed to organizations increasingly realizing the value of expert RPO in supporting their talent acquisition needs.
“The pandemic coupled with fluctuating talent acquisition trends are driving tremendous growth in the RPO market now more than ever,” said Tammy Browning, president of KellyOCG. She said the acquisition “significantly expands KellyOCG’s RPO solution and delivery offering … and enhances our specialty RPO strategy and expertise, and provides us with another entry point into the high-tech industry.”
RocketPower’s customer lineup includes Instacart, Uber, Bitly, Betterworks and Reflextive. Caldwell founded the company in 2016 after serving as Instacart’s first vice president of people and talent. In addition to RPO, the company offers services in executive search, team staffing, technical consulting and outsourcing.