SterlingBackcheck Announces Merger with TalentWise - January 06, 2016
Transaction Will Make SterlingBackcheck the Largest Background Screening Company; Will Create Industry-Leading Customer Experience and Technology Platform
NEW YORK, January 6, 2016 – SterlingBackcheck, one of the world's largest background screening companies, announced today that it has agreed to merge with TalentWise, one of the most innovative and fastest growing companies in the background screening industry. Terms of the transaction were not disclosed. By joining with TalentWise, SterlingBackcheck will be able to provide broader services that support its clients throughout the hiring process.
SterlingBackcheck will integrate TalentWise's cloud-based client-facing technology with its already best in class screening platform, resulting in an unparalleled customer experience and additional service offerings. This is SterlingBackcheck’s ninth M&A transaction in recent years, further strengthening the company and allowing it to accelerate its growth by developing new innovative products to meet the many unmet needs of the global human resources community.
Based in Seattle, Washington, TalentWise is a leading Cloud solution provider for the Human Capital Management industry focused on helping HR executives build and maintain compliant workforces. The company's nearly 500 employees work tirelessly to create exceptional customer and candidate experiences.
"TalentWise's impressive track record for growth and numerous achievements and accolades are a direct result of its talented leadership team, dedicated employees and commitment to continuous innovation and customer satisfaction," said Clare Hart, SterlingBackcheck's chief executive officer. "By uniting TalentWise's modern customer experience with SterlingBackcheck's powerful screening platform, we will be able to better serve clients and applicants around the globe."
"Our two companies share a high-performance culture marked by continual innovation and exceptional service that places the customer experience first. As a result, we believe integrating TalentWise with SterlingBackcheck should be a seamless process and will permit our companies to remain focused on serving our clients and their candidates," Hart added.
"Joining forces with SterlingBackcheck is an exciting direction for TalentWise," said Todd Owens, TalentWise's chief executive officer. "SterlingBackcheck's success is a testament to its strategic vision, disciplined management and innovative spirit. We believe this transaction will provide even greater opportunities for our employees and expanded offerings for our clients. As we examined how best to continue to grow our company and serve our clients, joining SterlingBackcheck quickly became the logical choice." Todd Owens will remain with SterlingBackcheck and move into the role of chief operating officer.
TalentWise will join SterlingBackcheck as it accelerates its multiyear strategy of domestic and global expansion. In June 2015, Goldman Sachs and La Caisse de dépôt et placement du Québec (CDPQ) acquired a majority interest in the company. William Greenblatt, SterlingBackcheck's former CEO, remains a significant investor and chairman of the board. SterlingBackcheck was named to the 2015 Deloitte list of the 500 Fastest Growing Technology Companies in the US and, for the fifth time since 2007, SterlingBackcheck was named to the 2015 Inc. 5000 list of the fastest growing private U.S. companies.
TalentWise, a leading cloud solutions provider for the Human Capital Management industry is transforming how HR screens and onboards new hires from offer letter to day one. The TalentWise Cloud is built on a foundation of compliance, embracing federal, state, and local government regulations; industry standards; and corporate policies. The single solution unifies HR systems and tasks, delivering a streamlined workflow. HR can have more confidence, breathe easier and deliver an awesome new hire experience. Recognitions include: "Top 10 Provider" in HRO Today's Baker's Dozen for seven consecutive years; Red Herring Top 100 North America and Global, and Inc. 5000, North America 2015. For more information about TalentWise, please visit www.talentwise.com.
SterlingBackcheck delivers confident hiring for a safer, more productive world. An NABPS accredited, global background screening partner, we employ over 3,000 people in 5 countries and help over 20,000 organizations hire and retain the right people. SterlingBackcheck is trusted by almost 30% of the Fortune 500 and 20% of the FTSE 100 to deliver accurate, efficient and compliant background and drug screening services. Our teams deliver extensive expertise in screening best practices, compliance and the client and applicant experience. Connected by the world's most robust background check technology platform, SterlingBackcheck continuously reinvests in its business, customers and communities to ensure we remain an indispensable, global leader. To learn more about SterlingBackcheck, please visit: www.sterlingbackcheck.com