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December 21, 2006

European e-recruitment and HCM firms merge

StepStone ASA, a Norwegian provider of e-recruitment software and services, has acquired German human capital management software firm ExecuTRACK Software GmbH.

By CBR Staff Writer

StepStone paid just over $41m (EUR 32m) for Dusseldorf-based ExecuTrack which posted revenue of around $16m in 2006.

ExecuTrack’s technology will help StepStone to extend the focus of its public job board and iGrasp, Obvious and EasyCruit services to cover more of the recruitment and retention cycle – from initial pre-hire attraction of candidates, through on-boarding to total talent management of employees post-hire.

ExecuTrack develops a talent management system called ETWeb enterprise that covers a range of human capital management applications including career planning, skills management, training development, compensation and performance management.

ETWeb has garnered over 2 million users worldwide, including those at companies like McDonalds, Siemens, DHL, Cable & Wireless, Mitsubishi Motors, and Lufthansa.

The combined company will employ 600 people and 13,000 customers. ExecuTrack will operate as an independent unit and will continue to be led by current managing director Dr Andreas Hoynigg.

StepStone, a publicly held company that is quoted on the Oslo Stock Exchange, also maintains offices scattered across Europe and one in the US. The company’s e-recruitment software, associated consultancy and public job boards across Europe are produced in 10 languages. Customers include Virgin Atlantic, Verizon, and Cadbury Schweppes.

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