Veritone acquires CareerBuilder’s Broadbean in $52m deal
Veritone, an enterprise AI software and services firm, is to acquire CareerBuilder’s Broadbean, a provider of software-as-a-service (SaaS) technology for talent acquisition and engagement.
The $52.5m (£42.4m) acquisition will expand Veritone’s AI-powered HR solutions offerings and will build upon Veritone’s acquisition of PandoLogic last year.
The combined businesses of Broadbean and PandoLogic will be integrated and rebranded as Veritone HR Solutions, enabling Veritone to better service new and existing customers with a broader suite of HR-enabled solutions.
At the same time, Veritone is announcing several executive changes within its HR Solutions business. Terry Baker has stepped down as president and CEO of Veritone subsidiary PandoLogic, and takes on an independent adviser role to Veritone, supporting Veritone’s HR Solutions business.
Matthew O’Connor is appointed chief revenue officer of Veritone HR Solutions. In this role, O’Connor will drive the company’s sales and growth strategy, expand channel and reseller partnerships and broaden Veritone’s reach in key vertical markets, including staffing and franchise.
UBS Investment Bank is acting as sole financial adviser to Veritone. Cooley is acting as legal counsel to Veritone. PJT Partners and LionTree are acting as financial advisers to CareerBuilder. Sidley Austin is acting as legal counsel to CareerBuilder.
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