Bond Bought. Symphony takes BIS.
Symphony Technology Group (STG) has completed the purchase of Bond International Software (BIS). STG plans to invest in innovation, adding significant customer value in the AdaptUX recruitment software platform and continuing the global success of Bond International Software plc. Founded in 2003, STG is a private equity firm that has a successful history of building leading global companies at the intersection of software, analytics and services with a strong presence in the Human Capital Management software and services space.
Tim Richards, managing director at Bond International Software UK Ltd said: “Our priority was to find a backer that would work with us and support the development of AdaptUX for the benefit of our customers. It was apparent very quickly that STG had a strong fit with our company, and we are already looking at how we can bring to bear its considerable financial muscle to improve our offering to the recruitment market, while continuing to offer our existing customers the excellent customer service they expect.”
William Chisholm, managing director and chief investment officer at STG, commented: “STG has significant experience broadly in the Human Capital Management (HCM) space and have several complementary software and analytics assets to BIS. Via our investments in First Advantage – the largest background screening provider to employers globally, Symphony Talent (which includes the Bernhard Hodes group) – a suite of cloud based solutions to help employers source, nurture, and engage the right-fit candidates, Innovantage Group – UK based Analytics provider in the Talent ecosystem among others, we are arguably one of the leading investors and thought leaders in the talent management space. Adding Bond International Software to this HCM portfolio further strengthens our ability to deliver a highly differentiated offering to these companies’ customers.”
“The rise of the gig economy is creating unique challenges and opportunities for staffing agencies and large enterprises worldwide,” said Sunit Mukherjee, principal at STG. “As a global leader in the recruitment software space with a strong technology platform and a long history of creating value for a marquee customer base, BIS is uniquely positioned to help leaders of its current and future customers navigate these challenges. STG will be working with the management team to drive innovation, enhance Bond International Software’s current market presence and help develop it into an even stronger force in the recruitment software marketplace.”