PIXID Group's acquisition of VectorVMS will form a global alliance in the vendor management system (VMS) and contingent workforce management space.
RALEIGH, N.C., June 26, 2024 /PRNewswire-PRWeb/ -- VectorVMS is excited to announce our agreement today to be acquired by PIXID Group to become a global leader in workforce management solutions. The transaction is supported by Keensight Capital, one of the leading private equity managers dedicated to pan-European Growth Buyout[1] investments.
PIXID Group and VectorVMS will form a global alliance of over 300 experts dedicated to delivering innovative solutions for the extended workforce. By combining VectorVMS's excellence in the midmarket with PIXID Group's laser-focused small and mid-size business approach, the acquisition will create a global offering that scales to meet the needs of any organization.
"We are super excited to join PIXID Group backed by Keensight Capital. It is clear that both organizations have a passion for developing extended workforce solutions focused on growth. The commitment from PIXID will allow VectorVMS to provide additional, targeted opportunities for our customers, partners, and employees alike," said Marc Husain, Managing Director of VectorVMS. "We feel that the alignment of VectorVMS with the PIXID Group will help us to further drive innovation in our software and services to provide a holistic approach to contingent workforce management. We are thrilled to join an organization with the same passion for delivering best-in-breed extended workforce solutions with a keen focus on growing the business."
In 2023, PIXID Group derived 100% of its revenues from the UK and Europe. Conversely, VectorVMS derived approximately 95% of its revenue from North America. By combining forces, these two organizations can leverage their expertise in local markets to provide a comprehensive solution to all small and mid-market organizations, managed service providers, and staffing suppliers.
PIXID Group has evolved to become a market leader in the extended workforce space with a well-thought-out, focused acquisition approach. VectorVMS is the latest in their journey to dominate the global, mid-market vendor management sector.
"We are delighted to welcome Marc Husain and VectorVMS' seasoned management team to PIXID Group to help us roll out our strategy in the USA and the MSP market segment," said Etienne Colella, President of PIXID Group. "We have been impressed by VectorVMS' ability to deliver complete and robust solutions in a simple way to organizations that do not have the resources to deploy complex tools. This fits perfectly with PIXID Group's vision of delivering leading-edge technology in a simple and effective way."
"There's a clear rationale for the combination and as global leader in the space, the combined company will be able to deliver innovative, market-leading workforce solutions to its global customer base," concluded Arjan Hannik, Partner at Keensight Capital. "We look forward to supporting the PIXID Group in the next phase of its development."
As a global leader in the VMS market, the combined companies will be dedicated to delivering innovative solutions for the extended workforce. The investment by the Keensight Capital team will allow VectorVMS to take its market-leading technology and make it even better by furthering product development and design while maintaining ease of use and deployment. Access to PIXID Group will also reinforce VectorVMS's global presence, and the synergies between the two organizations will create an unstoppable force within the contingent workforce space.
[1] Growth Buyout: investment in profitable, private companies experiencing strong growth, in minority or majority positions, with or without leverage, using a flexible approach tailored to the needs of individual entrepreneurs, in order to finance organic growth projects, acquisition strategies or provide historic shareholders with liquidity.
About PIXID Group
For 20 years, PIXID has been the leading pure SaaS platform, offering comprehensive solutions for digitalizing the recruitment and management of the flexible workforce. Initially specializing in temporary staffing, PIXID now provides a wide array of services, including the management of permanent contracts, fixed-term contracts, internships, and apprenticeships. With a dedicated team of nearly 250 employees across Paris, Rotterdam, London, Antwerp, and now the USA, PIXID supports thousands of businesses, ranging from small enterprises to large corporations, with a spend under management above 11 billion euros on a yearly basis. For more, visit pixid.com.
About VectorVMS
VectorVMS combines innovative and trusted technology with in-depth industry expertise to create specialized contingent workforce programs. Our configurable platform enables organizations to have full visibility into their contingent labor programs, giving them the confidence to maintain compliance, reduce costs, and drive efficiency in their extended workforce. For more, visit vectorvms.com.
About Keensight Capital
Keensight Capital ("Keensight"), one of the leading European Growth Buyout firms, is committed to supporting entrepreneurs as they implement their growth strategies. For over 20 years, Keensight Capital's team of seasoned professionals has leveraged their knowledge of investment and growth industries to invest for the long term in profitable companies with high growth potential and revenues in the range of €10 million to €400 million. Drawing on its expertise in the Technology and Healthcare sectors, Keensight identifies the best investment opportunities in Europe and works closely with management teams to develop and achieve their strategic vision. Keensight Capital's success has also earned it a Gold Award from the Private Equity Exchange & Awards each year for the last seven consecutive years, and in particular, the Best European Growth Private Equity Fund. For more, visit keensightcapital.com.
Media Contact
Taylor Ramchandani, VectorVMS, +1 877 820 4400, [email protected], https://www.vectorvms.com
SOURCE VectorVMS
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