"Recruiter.com's mission is to become the most collaborative and connective platform for hiring talent," said Evan Sohn, CEO of Recruiter.com. "Recruiter.com's acquisition of OneWire adds an innovative, subscription-based talent-matching platform; an incredible array of financial, banking, and accounting clients; and a community of industry professionals. We are extremely excited to combine our companies and look forward to driving tremendous growth together in 2021."
Since 2008, OneWire has delivered recruiting excellence to global financial companies, including investment banks, hedge funds, private equity, venture capital, and corporate firms, while accumulating a highly skilled and niche candidate database of over 700,000 financial services industry professionals. Recruiter.com also welcomes Eric Stutzke, CEO of OneWire, to the Recruiter.com management team. Eric’s background includes deep industry and public company experience; he previously handled external financial reporting and investor relations for Monster Worldwide.
“We’re excited to combine forces with Recruiter.com and extend their comprehensive suite of hiring solutions to our clients in the financial services industry,” said Eric Stutzke, CEO of OneWire. “OneWire will be in an excellent position to leverage the reach and distribution of the Recruiter.com platform, driving significant leads and incremental revenue across our product and service offerings. Our customers will continue to receive incredible client service and can further capitalize on video screening and AI-enabled sourcing software via Recruiter.com.”
Recruiter.com, with over 410,000 members in its CFO Network and executive finance group on LinkedIn, will immediately expand the reach of OneWire's SaaS platform for financial industry hiring. The companies plan to integrate their assets to deliver unified, subscription-based human capital solutions, from junior and intern-level personnel to management and executive-level talent.
The binding letter of intent obligates the parties to work cooperatively to negotiate, execute, and deliver a definitive asset purchase agreement governing the transaction by January 31, 2021. The purchase price shall be in restricted common stock of Recruiter.com. The acquisition is subject to due diligence and final approval by the board of Recruiter.com Group, Inc.
Recruiter.com Group, Inc.
Recruiter.com is disrupting the $120 billion recruiting and staffing industry by combining an AI and Video hiring platform with the world's largest network of over 27,500 small and independent recruiters. Businesses of all sizes recruit talent faster using the Recruiter.com platform, which is powered by virtual teams of on-demand recruiters and video and AI job-matching technology. Visit https://www.recruiter.com.
For investor information, visit https://www.recruiter.com/investors.html.
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OneWire
OneWire is a SaaS-based recruiting platform that hosts the largest community of professionals in the financial services industry. Candidates can confidentially search and apply to jobs, while employers can advertise open opportunities or search directly from our candidate database. Through the Company’s Matchbook product, candidates are pre-screened in advance and showcased in a talent marketplace where employers can directly send interview requests and pay on success. The Company also offers tech-enabled executive search services that are customized for each firm.
Company Contact:
Evan Sohn, CEO
Recruiter.com Group, Inc.
Phone: (855) 931-1500
Investor Relations:
Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecasts," "forecasting," "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued demand for professional hiring, the accuracy of the Recruiter Index® survey, the impact of the COVID-19 pandemic on the job market and the economy as virus levels are again rising in many states, and the Risk Factors contained within our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2019. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.