Jobvite, JazzHR and NXTThing RPO are combining to form a wide-ranging provider of talent acquisition and recruiting solutions for businesses of all sizes. The companies will continue to operate under their respective brands and plan to invest in new hires “in all geographies.”
JazzHR CEO Pete Lamson will lead the organization while Jobvite CEO Aman Brar joins its board of directors. Lamson said the company will be the only provider in talent acquisition to offer separate small business and enterprise technology solutions, paired with recruitment services. It will also provide a data and analytics platform.
The combined companies serve more than 10,000 customers and operate a network of more than 1,000 partners. They host 485,000 open jobs, attract 11 million job seekers each month and manage more than 188 million candidates, Jobvite said.
“[B]ringing JazzHR and NXTThing into their portfolio to give customers choice in tech and services is a very smart move,” said Aptitude Research Chief Research Officer Madeline Laurano in a statement provided by Jobvite.
Last year, Jobvite acquired the AI and data science team of Predictive Partner, a business-focused data firm based in Indianapolis. At the time, Brar said adding data-focused talent was meant to increase the sophistication of the company’s Talent Acquisition Suite.
In March, JazzHR rolled out a partnership with payroll-management provider Gusto. Using the integration, mutual customers can send new-hire information directly to Gusto from JazzHR to create payroll and automatically begin the onboarding process.
The companies will be working in a growing market. According to Technavio, the applicant tracking systems market will grow by $454 million, a CAGR of over 6%, through 2024. While the cost-effective and time-saving abilities of the technology continues to fuel growth, ATS limitations in general will act as a brake, the researcher said.