Recruiter.com Acquires Uncubed's Technology Solutions Business

Rhea-AI Summary

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) has acquired the Technology Solutions Division of Uncubed, a top recruiting technology firm, closing the deal on July 7, 2021. This acquisition enhances Recruiter.com's capabilities by incorporating Uncubed's Finalist platform and advanced candidate engagement tools, boasting a network of over one million users. The transaction involved restricted stock, cash, and a promissory note. CEO Evan Sohn highlights the potential for significant growth in on-demand recruiting solutions through this strategic move.

Positive

• Acquired Uncubed's proprietary recruiting technology and significant client base, including NBC and Penguin Random House.
• Increased candidate network to over one million users, enhancing recruitment capabilities.
• Strengthened foothold in software and data skill sets, particularly in the media sector.

Negative

• None.

HOUSTON, TX / ACCESSWIRE / July 12, 2021 / Recruiter.com Group, Inc. (NASDAQ:RCRT)(NASDAQ:RCRTW) ("Recruiter.com"), an on-demand recruiting platform, today announced the acquisition of the Technology Solutions Division of Uncubed, a leading recruiting technology company. The purchase brings the software and team behind Uncubed's talent community and candidate engagement platforms to Recruiter.com.

The acquisition includes Uncubed's Finalist, an online marketplace for sourcing and screening diverse early-professional software and data candidates, and a tech-driven alternative to traditional offline campus recruiting. Additionally, Recruiter.com will add Uncubed's job board technology and candidate engagement platform which includes Mediabistro, the leading job board and professional community for media, content, and creative professionals.

"The acquisition of Uncubed's Technology Solutions business brings proprietary recruiting technology, significant clients including NBC and Penguin Random House - and a candidate network exceeding one million users to Recruiter.com," said Evan Sohn, CEO of Recruiter.com. "Having a significant foothold in software and data skill sets and in the media sector, we believe the acquisition will be a tremendous growth driver for the expansion of our on-demand recruiting solutions."

About the acquisition, Chris Johnson, CEO of the Uncubed Group, said, "Recruiter.com is helping to transform recruiting and hiring into an online and on-demand function in a world where the sharp adoption of virtual recruiting and online sourcing driven by Covid is here to stay. We believe our technology and online candidate reach will accelerate this mission and are proud to be part of the Recruiter.com growth story."

Recruiter.com welcomes the Uncubed team to Recruiter.com, including talented staff in technology development, product management, sales, and customer support. Chris Johnson, CEO of Uncubed, joins Recruiter.com as SVP of Marketplace. Before co-founding Uncubed, Chris held leadership and financial roles at companies including i-transfer, Arsenal Capital, Cerberus Capital, and William Blair. In addition, he has advised high-growth technology startups, including Aura Frames and PerkSpot, and has served on the board of directors for multiple technology and industrial companies.

Recruiter.com's purchase of Uncubed was successfully closed on July 7, 2021, through an asset purchase agreement. Recruiter.com paid for the acquisition with restricted common stock, cash, and a promissory note.

About Recruiter.com Group, Inc.

Recruiter.com is an online hiring platform delivering on-demand recruiting technology and services to both large and small businesses. With AI and video technology, and the world's largest network of recruiters, Recruiter.com delivers on-tap recruiting that flexes with hiring needs. To learn more, visit https://www.recruiter.com.

For investor information, visit https://investors.recruiter.com

Please follow social media channels for additional updates:

• LinkedIn Recruiter Network Group: https://www.linkedin.com/groups/42370/
• LinkedIn Company Page: https://www.linkedin.com/company/1240434
• Twitter Company Page: https://twitter.com/recruiterdotcom
• Facebook Company Page: https://www.facebook.com/RecruiterDotCom

Company Contact:
Evan Sohn
CEO
Recruiter.com Group, Inc.
info@recruiter.com

Investor Relations:
Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
dave@redchip.com

Cautionary Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecasts" "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued demand for professional hiring, the accuracy of the Recruiter Index® survey, the impact of the COVID-19 pandemic on the job market and the economy as virus levels are again rising in many states, and the Risk Factors contained within our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

SOURCE: Recruiter.com Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/655090/Recruitercom-Acquires-Uncubeds-Technology-Solutions-Business

FAQ

What is the significance of Recruiter.com's acquisition of Uncubed's Technology Solutions Division?

The acquisition is significant as it enhances Recruiter.com's recruiting technology capabilities and expands its client base and candidate network, supporting growth in its on-demand recruitment services.

What platforms did Recruiter.com acquire from Uncubed?

Recruiter.com acquired Uncubed's Finalist platform, which focuses on sourcing diverse early-professional candidates, along with their job board technology and candidate engagement platform.

When was the acquisition of Uncubed closed?

The acquisition of Uncubed's Technology Solutions Division was successfully closed on July 7, 2021.

How did Recruiter.com finance the acquisition of Uncubed?

Recruiter.com financed the acquisition using restricted common stock, cash, and a promissory note.

What impact might the acquisition have on Recruiter.com’s future?

The acquisition is expected to drive significant growth for Recruiter.com by expanding its on-demand recruiting solutions and increasing its market presence.