Hiring platform Montage has merged with Shaker International, a provider of of predictive talent intelligence and assessment solutions. Terms weren’t disclosed, and the combined entity doesn’t have a name yet.
The new organization will help its combined client base to embed predictive intelligence into automated hiring workflows. The result, it said, will be an improved recruiting experience for candidates and a streamlined hiring process for employers..@MontageTalent and @ShakerVJT merge to embed predictive intelligence into automated hiring workflows. When and how remain to be seen. #HR #HRTech #Recruiting Click To Tweet
Montage CEO Kurt Heikkinen will lead the new company, while Shaker CEO Brian Stern will become president. The two businesses will keep all of their employees and offices, with the combined company co-headquartered in Delafield, Wisc. (where Montage was based) and Cleveland (where Shaker was located). No layoffs are expected.
Merger of Equals
The company emphasized the transaction was a merger rather than an acquisition. It resulted from “a highly collaborative effort between Shaker International and Montage.” At least for now, the companies will operate independently under their existing names. A new brand identity will be rolled out later this year.
The combined business expects to engage more than 15 million candidates and facilitate over 1 million hires around the world this year. “Together, we will be delivering the experience the modern candidate and the future of all workers demand, in a manner that informs and accelerates smarter hiring decisions,” Heikkinen said.
The new business said that the Riverside Company, a private equity firm that made a 2017 growth investment in Shaker, facilitated and financed the merger and “is eager to continue supporting the combined business and provide access to additional resources to fuel growth, innovation, enhanced client support and market expansion.”
“Montage engaged in a deliberate, in-depth market analysis to support our growth strategy in early 2019,” explained Heikkinen. “The Riverside Company saw strategic value in bringing Montage and Shaker International together, and has been working with us for the past few months to solidify this merger.”
On the ground, teams from Montage and Shaker have been developing plans for combining their services, processes and products. Customers and partners will have immediate access to both firms’ products and services. In addition, the company expects the merger accelerate their combined strategy. The new organization’s clients include brand names such as Allstate, Comcast, CVS, Humana and Proctor & Gamble.
“To continue our momentum and ensure our success with clients, we will operate in the market as separate brands as we work through a strategic integration process,” Heikkinen told the HCM Technology Report. “Both Shaker International and Montage are high-growth companies, and maintaining this 30-40 percent growth trajectory as we work to integrate our two organizations over the next few months is important to both of us.”
In February, Montage partnered with Infor to provide employers with predictive analytics and interviewing technology. The idea was to offer candidates an improved interviewing and assessment experience and help companies move quickly between scheduling, assessment and interviews.
Updated 4:45 p.m. ET May 21, 2019 with comments from CEO Kurt Heikkinen.
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