PRO Unlimited acquires Workforce Logiq in a big contingent workforce transaction

Two big technology providers in the contingent workforce space are making headlines today — with PRO Unlimited acquiring Workforce Logiq.

A dollar amount wasn’t given in the announcement, but the deal was facilitated by EQT Private Equity, taking over Workforce Logiq from its investors at Carlyle. And EQT had just acquired PRO Unlimited in June.

PRO Unlimited said in a press release that the transaction adds technology to its platform approach and bolsters its presence in more regions around the world, including Nordic countries. The highlighted Workforce Logiq technology included “16 patented and patent-pending solutions, dedicated data science and development teams, and an award-winning Total Talent Intelligence technology platform.”

Read Spend Matters’ analysis of this deal and how the VMS/MSP market is changing.

“Bringing Workforce Logiq into the PRO Unlimited family will allow us to extend our reach and synthesize two like-minded entities that share the same strategy and platform approach to contingent workforce management,” Kevin Akeroyd, CEO at PRO Unlimited, said in the press release. “The addition of its software and services into our platform will continue our tradition of eliminating the need for costly and inefficient point solutions to manage contingent labor. The result is a more optimal experience for clients looking to modernize mission-critical non-employee workforce programs, which have now become a top four spend category in most corporations.”

Spend Matters’ coverage shows that PRO Unlimited has been busy in the last year with product developments (like DaaS solution, DirectSource, contingent workforce diversity) and other acquisitions:

Workforce Logiq is one of 75 offerings in Spend Matters’ SolutionMap rankings. Against peers in the Temp Staffing technology category, Workforce Logiq was scored as a Solution Leader by our analysts. More SolutionMap insights can be found here: Workforce Logiq: What Makes It Great (Temp Staffing SolutionMap Analysis).

Spend Matters also has covered Workforce Logiq’s 2019 name change from ZeroChaos and, later that year, its acquisition of ENGAGE Talent and its solution powered by artificial intelligence. Read our analysis: Workforce Logiq’s acquisition of ENGAGE Talent: On the innovation path beyond MSP [PRO].

Workforce Logiq CEO Jim Burke said in the press release that he looks forward to transforming more with PRO: “As one company, we will create a new choice for a scaled, global platform serving clients virtually anywhere in the world, continue to reimagine how companies achieve greater management, performance and financial control over their workforce and talent supply chains, and offer our employees new opportunities for professional growth.”

Bryan Peña, Principal at DefiantSolutions, is a workforce solutions strategist who looked at the deal from an overall market perspective.

“This an interesting transaction in a rapidly maturing MSP industry where market differentiation is difficult,” he said. “PRO Unlimited gets some new technology and additional economies of scale from Workforce Logiq, along with an expanded footprint geographically. The question for me is: Will it make a difference in the overall MSP landscape in terms of market growth/expansion? … If PRO Unlimited can gain sufficient synergies through the transaction to increase overall profitability and cash flow and integrate new technologies and Workforce Logiq systems in a new way while generating additional value streams, they could end up making a real difference.”

How do you find the right procurement technology and vendor for your company? You can use Spend Matters’ 5-step “Procurement Technology Buyer’s Guide” to help.