MrTed Ltd. acquires German E-recruitment leader, refline AG

May 30, 2006 -- MrTed, the leading provider of global on-demand talent acquisition solutions, announced today that it has bought a 100% equity stake in German e-recruitment leader refline AG. This takeover brings together two industry frontrunners to reinforce MrTed’s leadership of the European market. The terms of the transaction, which include cash and shares, were not disclosed.

MrTed’s move can be interpreted as a bold statement of future intent. By joining forces with the German market leader, MrTed is driving forward its strategy of providing world-class talent acquisition solutions that meet the needs of local markets. The company shifted into top gear last year, with a 46% increase in subscription revenue and bold expansion into Asia Pacific and Central and Eastern European markets.

“We all want to move with international markets to create solutions fit for global players,” states MrTed CEO Jérome Ternynck, “but major providers are forgetting that markets remain local, with very specific requirements. Corporations need to be assisted in navigating local markets in their quest for talent. MrTed has become very good at fulfilling this role.”

The acquisition nudges refline to top position in the German e-recruitment market. Operating in a market with very specific market conditions, recruitment practices and legislation, its software and services package has become the solution par excellence for major corporations. A perfect fit for MrTed, integration of the German leader further defines the unique role MrTed is carving out for itself as a locally aware world class player.

MrTed CEO Jerome Ternynck stated: “We were very impressed with refline’s technology and achievements in the German market. We welcome their employees and customers into MrTed’s growing community, and look forward to working together on the future development of our solutions and global services.”

The two companies will combine MrTed’s international expertise and presence in 15 countries around the world with refline’s unique ability to service the needs of recruitment in Germany. refline solutions will become an integral part of MrTed’s product portfolio. MrTed will continue to maintain and further develop all refline solutions and services.

Refline CEO Wolfgang Achilles states: “This is an ideal opportunity for refline to promote our expertise on the international market, hence supporting the global expansion of our customers. We were impressed by MrTed’s offering and by their ability to deliver corporate excellence on all levels. They really are the global provider that best comprehends local needs, which fits perfectly with our own vision.”

MrTed and refline will merge their operations to create a new leader in the German market for talent acquisition solutions, servicing over 1000 corporate recruiters in Germany alone. Mr Achilles joins MrTed’s management team. He will be responsible for all MrTed solutions (including refline) across Germany, Switzerland and Austria.

As the war on talent heats up, companies need to find the most efficient methods to secure the best talent faster. Best-of-breed talent acquisition solutions have become widely accepted by more and more organizations as a means to attract, hire and retain the very best talent around the world while streamlining recruitment processes and reducing recruitment costs.

Talent acquisition solutions are one of the fastest growing segments of the HR software market. In 2004, analysts at the International Data Corporation predicted an annual growth rate of 24.9% in the recruitment solutions market in the US alone. This growth rate represents a staggering increase of approximately $100m in market value per/year (over a period spanning 2003-8). With over 50,000 users across more than 100 countries, MrTed is ideally positioned to establish itself as a major player in the worldwide market.
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