GTCR has acquired Beeline’s vendor management solution software and related assets from Adecco Group. No financial terms were disclosed. As a result of the deal, GTCR-backed IQN, a provider of non-employee workforce management solutions, and Beeline have agreed to merge.
DENVER, Dec. 13, 2016 /PRNewswire/ — IQN, the leading independent provider of non-employee workforce management solutions, and Beeline, a market leader in software solutions for sourcing and managing the extended workforce, today announced the two companies have entered into a definitive merger agreement. The combined entity creates one of the world’s largest vendor management system (VMS) providers, which is uniquely positioned to help its customers and partners maximize the value obtained from their rapidly growing extended workforce, prepare for the future of work, and win the war for quality, on-demand talent.
Under the terms of the agreement, GTCR, the Chicago-based private equity firm and owner of IQN, purchased the vendor management solution software and related assets of Beeline from Adecco Group, a Fortune Global 500 company and leading provider of workforce solutions based in Zurich-Glattbrugg, Switzerland. Financial terms are not being disclosed.
The merger of IQN and Beeline, both award-winning and recognized leaders in the VMS industry, offers numerous benefits to their joint customers and partners. With the top technical minds and contingent workforce experts now in collaboration, the combined company will be uniquely able to deliver the next generation of technology innovation, end-to-end customer engagement services, and value-add capabilities for managing the contingent workforce.
“The contingent workforce is a fast-growth market as business leaders turn to non-employee labor to optimize their total talent costs, tackle skills shortages created by an aging workforce, and execute on their mission critical goals,” said Joe Juliano, President and CEO, IQN. “As our customers and partners navigate this changing world of work, our merger with Beeline enables us to more rapidly and effectively respond to their needs by focusing on sustained customer satisfaction, superior execution, and the industry’s largest R&D investment.”
“It’s exciting to combine two successful and proven innovators in VMS,” said Doug Leeby, President of Beeline. “Our clients, and the market, will benefit tremendously from this merger by leveraging the collective advances we’ve made in user experience, integration, analytics and self-sourcing. Together, we unite expertise, technological strengths, a robust partner ecosystem, and rapid innovation to deliver a superior level of workforce technology to our customers and partners.”
Plans for New, Combined Organization
Leeby, who has more than 16 years in the VMS industry, including 14 years in leadership roles at Beeline, will lead the go-forward IQN/Beeline organization. Juliano will transition to a role on the board of the new organization to assure continuity and success of the combined organization.
As IQN and Beeline collaborate on post-merger integration activities, their customers and partners can expect a business-as-usual environment with access to their current resources in global account management, implementation, support and all other key areas of the business. IQN and Beeline customers can also continue to rely on their current VMS solutions, without any disruption in services or capabilities. IQN and Beeline will announce a joint product roadmap and go-forward branding plans, as they become available.
IQN is the leading independent technology provider of Vendor Management System (VMS) software for Global 2000 companies. IQN’s products enable enterprises to intelligently manage and optimize complex services procurement and contingent workforce programs. Since 1999, IQN’s products have been delivering procurement visibility and predictability, helping corporate leaders around the globe increase profitability, mitigate risk and compete more effectively. For more information, visit www.IQN.com.