US-based talent acquisition firm SHL enters agreement to acquire Aspiring Minds
US-based talent acquisition company SHL has announced that it has entered an agreement to acquire Gurugram and San Jose-based Aspiring Minds.
However, the terms of the deal are expected to close in November and have not been disclosed yet. Investment bank DC Advisory acted as the financial advisor for the deal.
Founded 11 years ago, Aspiring Minds currently works with more than 100 of the global Fortune 500 companies, and has over 3,000 customers worldwide. Its product involves AI-powered talent assessment and interviewing solutions, spanning a portfolio that includes coding, language, video interview, and skills tests.
SHL said these capabilities were a perfect fit alongside SHL’s foundation of innovation, which includes machine learning technology combined with rigorous science and proprietary datasets that enable SHL customers to hire and develop the right talent.
Speaking about the acquisition, Andy Bradshaw, CEO of SHL, said,
“We see a noticeable gap between those who seek to transform their organisations with a digital strategy, and those who actually have the talent to do so. This acquisition infuses Aspiring Minds’ advanced AI technology throughout SHL’s portfolio at a platform level and will leverage our rigorous science to enable the technical, emerging and leadership talent required for our 10,000-plus customers to succeed in the digital era.”
Speaking about the acquistion, Himanshu Aggarwal, Co-founder and CEO of Aspiring Minds, said: “Aspiring Minds has scaled rapidly, working with corporations across the US, China, India, Philippines, and the Middle East. We are excited about the opportunity to be part of SHL and take our combined products and solutions to thousands of corporations across the globe.”
SHL added that it had launched several new solutions since being re-established as a standalone business in April 2018, and this strategic acquisition further bolsters the company’s growth trajectory.
“We’ll continue to ramp our investment, both organically and inorganically, in companies and capabilities that lead to better talent outcomes for our customers globally,” Andy said.
(Edited by Teja Lele Desai)