CONTRACTS & DEALS: 24-28 FEBRUARY 2020

This week’s contracts and deals include: Cornerstone OnDemand, Frontline Recruitment, Gi Group, Saba

• People development solutions specialist Cornerstone OnDemand is to acquire talent experience solutions provider Saba, a portfolio company of Vector Capital. The cash and stock transaction is valued at around $1.395bn (£1.04bn) and has been unanimously approved by the boards of directors of both companies. The combined company will have more than 75m users and serve roughly 7,000 organisations around the globe.

Centerview Partners and Morgan Stanley acted as financial advisers to Cornerstone in this transaction, and Cooley acted as its legal adviser. Morgan Stanley Senior Funding, Bank of America, Credit Suisse, Deutsche Bank Securities and Jefferies Finance have provided committed financing to Cornerstone for this transaction. William Blair & Company acted as financial adviser to Saba and Paul Hastings acted as its legal adviser.

The transaction is subject to the satisfaction of certain customary closing conditions and regulatory review, and it is expected to close in the second quarter of 2020.

• Nottingham-headquartered careers specialist Frontline Recruitment has agreed a partnership with food manufacturer Skinny Food Co to supply staff to its factory in Arnold, in the North of Nottingham.

• Birmingham 2022 has appointed international recruiter Gi Group as Official Recruiter for the Commonwealth Games, to help find 1,000 people over the next two and a half years, to join the team planning and delivering the event. 

GLAA launches temporary licensing scheme for food sector

The Gangmasters and Labour Abuse Authority (GLAA) has launched a temporary licensing scheme for the critical food supply sectors.

Legislation 31 March 2020

‘Unprecedented’ demand leads to recruitment drive for pizza firm

A Nottingham-based food manufacturing giant has launched a recruitment drive due to “unprecedented” demand during the coronavirus pandemic.

31 March 2020

FINANCIALS: Staffline reveals mixed fortunes due to pandemic

Staffline is encountering mixed fortunes as a result of the coronavirus pandemic.

Financials 25 March 2020

Surge as jobseekers search for key worker roles

Job searches for key worker roles in the driving, retail and hospitality sectors have surged, according to data from job board CV-Library.

24 March 2020
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