July 13, 2021

Recruiter.com Group Inc. (OTCMKTS: RCRT), an online platform that connects employers and recruiters to find workers, has acquired the technology solutions division of recruitment technology company Uncubed.

The deal brings the software and team behind Uncubed’s talent community and candidate engagement platforms to Recruiter.com. It includes Finalist, Uncubed’s online marketplace for finding and screening diverse professional software and data candidates, and a technological alternative to traditional offline campus recruiting. Recruiter.com will also add Uncubed’s job board technology and candidate engagement platform, which includes Mediabistro, a job board and professional community for media, content and media professionals. creation.

The Uncubed team will join Recruiter.com, including technology development, product management, sales and customer support staff. Chris Johnson, CEO and Co-Founder of Uncubed, joins Recruiter.com as Senior Vice President of Marketplace.

The transaction closed on July 7 through an asset purchase contract. Recruiter.com paid for the acquisition with restricted common stock, cash and a promissory note. According to a deposit with the United States Securities and Exchange Commission, the amount owing at closing was $ 3.5 million, consisting of $ 500,000 in cash, a promissory note of $ 1.75 million with a rate interest of 6% and a maturity date of July 1, 2023, and 257,545 common shares.

“The acquisition of Uncubed’s Technology Solutions business provides Recruiter.com with proprietary recruiting technology, significant clients including NBC and Penguin Random House, and a candidate network exceeding one million users,” said Evan Sohn, CEO of Recruiter.com. “With a significant presence in the software and data skill sets and the media industry, we believe the acquisition will be a tremendous growth engine for the expansion of our on-demand recruiting solutions. “



Source link