Recent developments in the recruiting software industry seem to point to increased activity and growth in the sector, which is in line with recent employment and economic news.
The U.K. HR technology company MrTed has been acquired by StepStone Solutions, another talent management company also based in the U.K. Interestingly, the sale actually gives StepStone a stronger U.S. presence. Experts believe that MrTed was an attractive acquisition candidate because it had a strong base of 100 global enterprise organizations and also a SaaS architecture. StepStone started as a job board in 1996.
In related news, Kenexa announced that it had grown its quarterly revenue by 44% over the same period in 2009. Per share earnings for Q2 2010 were in line with analysts’ estimates as well. The HR technology provider earned $44.9 million for the most recent completed quarter.
Also meeting or beating Wall Street estimates was Monster, with break-even earnings per share for Q2 2010 and $214.9 million in revenue. The company attributed its performance to stronger bookings worldwide, representing a 19% increase from the same quarter in 2009. The ongoing acquisition of Yahoo!HotJobs continued to affect the expense side.
Taleo managed to increase its net losses while beating analysts’ earning estimates. During the second quarter of 2010, the company lost $1.4 million (up from $113,000 in the same quarter last year) while boosting its quarterly revenue to $56.3 million – acquiring 226 new customers during the same time period.