November 29 2017
Bullhorn, the staffing and recruitment software firm, acquired Peoplenet, an Atlanta-based timekeeping software firm. Bullhorn said the acquisition will help accelerate its cloud-based strategy for staffing firms with solutions for time, attendance and expense management.
The deal closed last week and the Peoplenet brand will integrate into Bullhorn. Terms of the transaction were not announced.
Peoplenet CEO Ed Holmes will become a senior VP at Bullhorn, leading the company’s workforce and revenue cloud solutions, which will include offerings for time and expense management, attendance, contract management and invoicing. Holmes will direct the overall strategy and delivery for workforce and revenue cloud and support Bullhorn and Peoplenet customers across all industries.
Peoplenet is used by staffing firms, as well as by healthcare and hospitality companies. It provides time capture technology, a workflow rules engine, and integration with vendor management systems. Peoplenet tracks more than 575,000 workers per month and logs more than 75 million hours per year.
“We’ve known the team at Peoplenet for many years now, and we’ve been impressed with how they’ve built their business,” said Art Papas, founder and CEO of Bullhorn. “We share many of the same customers and approach to customer success, so joining forces with them will be a tremendous complement to our business. We’re looking forward to working with them to reach new customers and grow share in the market.”
Bullhorn also announced the official closing of its acquisition by Insight Venture Partners, a New York-based private equity firm focused on technology. The transaction, first announced in October, includes an investment from Genstar Capital, a San Francisco-based private equity firm with a focus on vertical market software companies.
Bullhorn is based in Boston with offices in Europe, Australia and Canada. Its products include cloud-based customer relationship management software, back-office software and an applicant tracking system.