Pixid Group (“Pixid”), the leading European provider of temporary workforce management software solutions, today announces an agreement to acquire VectorVMS (“VectorVMS”), a US leader in vendor management system (VMS) technology and support. The acquisition was supported by Keensight Capital (“Keensight”), one of the leading private equity managers dedicated to pan-European Growth Buyout [1] investments.
Headquartered in Raleigh, North Carolina in the United States, VectorVMS provides innovative vendor management software to both corporate clients and managed services providers (MSPs) who support corporate clients. VectorVMS currently serves more than 100 customers globally, with a key focus in the US, leveraging their expertise in the healthcare, finance and government sectors.
Pixid provides solutions to clients to efficiently manage their external workforce via a simple, scalable and cost-effective platform. As a digital HR pioneer, the company connects all stakeholders in the temporary work value chain with its end-to-end cloud-based technology, providing seamless integration with a wide range of technology partners and enabling a comprehensive Total Talent Acquisition solution.
This acquisition will position the Group as a global leader in the VMS market, dedicated to delivering innovative solutions for extended workforce management. By combining VectorVMS’s expertise in the mid-market and across the USA, with the Pixid Group’s unrivalled expertise in VMS and ATS technology, as well as its dedicated focus on small and midsize businesses, the two companies will create a comprehensive global solution. This partnership will enable them to scale effectively to meet the diverse needs of organizations of all sizes.
Etienne Colella, President of Pixid Group commented: “We are delighted to welcome Marc Husain and VectorVMS’ seasoned management team to the Pixid Group to help us roll out our strategy in the USA and the MSP market segment. 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 our vision of delivery leading edge technology in a simple and effective way.”
Marc Husain, Managing Director of VectorVMS, added: “We are super excited to join the Pixid Group backed by Keensight Capital. Both organizations have a passion for developing extended workforce solutions focused on growth. We feel that the alignment of VectorVMS with Pixid will help us to further drive innovation enabling us to deliver best-in-breed extended workforce solutions.”
Arjan Hannink, Partner at Keensight Capital, concluded: “We are pleased to support Pixid with their acquisition of VectorVMS. There’s a clear rationale for the combination and as a global leader in the space, the combined company will be able to deliver innovative market leading workforce solutions to its global customer base. We look forward to supporting the Pixid Group in this next phase of its development.”
[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.
www.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.
www.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.
www.keensightcapital.com