FOR IMMEDIATE RELEASE
Corum's Client Executrack Acquired by Stepstone
Bellevue, Washington December 27, 2006 Corum Group is proud to announce the €32 million acquisition of its client, ExecuTRACK Software Group by StepStone, a Norway based leader in the growing sector of online e-recruitment products and solutions. ExecuTRACK is one of the leading providers of strategic talent management solutions. This is a great strategic combination. The acquisition extends StepStone's product and services offerings to support each element of the recruitment and retention process and uniquely positions the company to fully exploit the rapidly growing opportunity for e-recruitment and talent management solutions, explains Miro Parizek, Corum Group International Managing Director.
"The combined market strength of StepStone and ExecuTRACK particularly in Europe where both companies are market leaders will provide our customers with access to an unrivalled range of products and services from one single company, StepStone Chief Executive Officer (CEO), Colin Tenwick, said.
ExecuTRACK will continue to be led by founder and Managing Director, Dr. Andreas Hoynigg, reporting to StepStone CEO, Colin Tenwick. In the first phase of integration the companies will look to deliver synergies in sales, customer service, marketing and eventually product development to offer a uniquely comprehensive range of e-recruitment and talent management solutions.
As the global market leader for strategic talent management solutions, we are focused on expansion and with StepStone, we will continue to build on the considerable success that we've enjoyed to date. That success is a result of our approach to product development and we have close to 2 million users worldwide of our flagship solution, ETWeb™. With StepStone, we will combine our strengths to continue to increase our global market share,"
Dr. Hoynigg said.
About ExecuTRACK Software Group:
The ExecuTRACK Software Group has rapidly established itself as the global market leader for strategic Talent Management. The 100% Web-based solution ETWeb™ Enterprise developed with over 20 years of experience fully supports organizations in analyzing and managing all areas of human capital including: Career & Succession Planning, Performance Management, Skills and Competency Management, Training & Development Management; Compensation Management, Organizational Charting, and Global Talent Warehouse.
About StepStone:
StepStone, listed on the Oslo Stock Exchange (Ticker STP), is recognized as a leader in the growing sector of online e-recruitment products and solutions. It provides e-recruitment software and associated consultancy as well as some of the largest and most successful public job boards throughout Europe. StepStone's e-recruitment solutions are produced in 10 languages and multinational customers include Virgin Atlantic, Louis Vuitton, Verizon, Marriott, AstraZeneca, Cadbury Schweppes, RBS and Amazon.
About Corum:
Corum Group Ltd. is the premier provider of M&A services to software and information technology companies worldwide. With ten offices globally, Corum has completed over $6 billion in transactions in 15 countries in its 21-year history, and publishes the software industrys most widely distributed M&A research. Corum is built and staffed by highly experienced former CEOs, who are supported by the industrys leading researchers, writers and valuators. The company has invested more than $20 million to build the worlds largest IT database of software companies worldwide to help ensure unparalleled success in client engagements. For more information visit: www.corumgroup.com.
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