London-based MrTed has been gaining in popularity and has steadily increased their client base since launching in the United States. Two years ago, MrTed introduced a free ATS called SmartRecruiters, which buoyed their foothold in the small business market.
Both the ATS and MrTed’s SaaS talent acquisition product, MrTedTalentLink, will be bundled into the acquisition. StepStone reps say the appeal of the SaaS solution is that it can be rapidly configured to support individual user requirements within the context of a standardised, SaaS-based corporate environment.
According to John Zappe’s article on ERE, the main impetus for the purchase was MrTed’s SaaS architecture and customer base. The acquisition adds over 130 customers to StepStone Solutions’ existing customer base of 1,500 global businesses, including France Telecom, Heineken, SGS, Alexander Mann Solutions, Wolters Kluwer, and Randstad.
According to a press release, the purchase will accelerate StepStone Solutions’ global growth and extend its product set.
“Our immediate experience of working with the MrTed team, customers and products has been very rewarding, with a strong similarity in our cultures and processes,” said StepStone Solutions CEO, Matthew Parker. “The increase that MrTed brings in many areas of capability, combined with the global reach, customer base and market expertise of StepStone Solutions, give us an unmatched ability to serve customers of all types and sizes in every market including Europe, Asia-Pacific and the US.”
“This acquisition makes absolute sense,” said Josh Bersin, president of Bersin & Associates, a leading research and advisory firm focused on enterprise talent management and learning. “Combined, these two companies have significant global market share. We estimate that the talent acquisition market will continue to grow by about 10% over the next year, with much of that growth coming from global expansion. Stepstone Solutions is well positioned to capitalise on this opportunity.”
The press release affirms that the MrTed brand and products will continue to be developed, marketed, and supported by StepStone staff.