Looks like the recent wave of HR-vendor M&A activity is continuing into the new year—this time in the talent-assessment space.
Earlier today, SHL and PreVisor announced they’ve joined forces, making the newly formed SHL Group the world’s largest employer of business psychologists outside of the public sector. Terms of the transaction were not disclosed, but the combined, privately-held company claims to deliver more than 15 million assessments annually in over 150 countries and more than 30 languages.
London-headquartered SHL brings to the table its global experience, particularly in Europe, the U.K. and Asia Pacific, and its strength in post-hire assessments. Atlanta-based PreVisor, meanwhile, brings its U.S. client base and a strength in pre-hire assessments.
SHL CEO David Leigh, who will become CEO of the new entity, describes the merger as an “industry-defining moment.”
Certainly, the merger makes SHL Group a force to be reckoned with.
“Both SHL and PreVisor tend to be very aggressive,” Josh Bersin, CEO of Bersin & Associates, told me earlier today. “This is a market where a lot of the companies tend to be very scientific [and therefore] passive [when it comes to sales]. So this is going to certainly have an impact.”
Together, the two companies report revenues of $200 million.
Bersin expects the new SHL Group will continue to acquire other players in the talent-assessment field to further solidify its position.
“We’re just in this funny cycle [of] money seeking opportunities [in talent management],” Bersin says.
So stay tuned.