Acquisition of Employer-focused applications and tax credit platforms will enhance the Equifax Workforce Solutions business model
Equifax®, announced that it has closed the acquisition of HIREtech, a technology-focused human capital management (HCM) and employer tax incentive firm. With this acquisition, Equifax expands the Workforce Solutions’ portfolio with the HIREtech suite of products, accelerating offerings for both employer and verification services. As digital efficiency continues to accelerate in the human resources (HR) space, acquiring HIREtech advances the Equifax commitment to help support the HR and Payroll industry with more automated and better data-driven services that help simplify complex, manual HR tasks.
“We are energized by the opportunities we can offer by adding the HIREtech capabilities to our differentiated Workforce Solutions’ Work NumberⓇ income and employment verification and HR services,” said Mark W. Begor, Chief Executive Officer, Equifax. “Our cloud native footprint has enhanced our ability to integrate new alliances and acquisitions and drive synergies more quickly – as we believe only Equifax can. We are reinvesting our strong 2020 financial performance to help continue the expansion of our unique data assets and capabilities, making bolt-on M&A central to our future growth strategy.”
HIREtech offers a robust technology platform that offers businesses access to data and intelligence that helps guide important financial and hiring decisions. Bridging the gap between human resources, tax, and finance, the HIREtech capabilities will help expedite innovation within the Workforce Solutions business unit at Equifax.
“This acquisition further reinforces the value that Equifax Workforce Solutions delivers as a provider of innovative, data-driven HR services, which has become critical as workforces shift to meet the evolving needs of employees and new work environments,” said Joe Muchnick, SVP at Equifax Workforce Solutions. “Together we can accelerate our ability to help provide employers with new innovations and actionable insights that better support their workforce.”
HIREtech, an Equifax company, is now part of the Workforce Solutions business unit at Equifax. The HIREtech leadership team has assumed roles with Equifax as part of the new Houston, Texas-based division of Equifax Workforce Solutions.
“It is an exciting time to be in the HR technology field,” said HIREtech CEO Brian Cameron. “Joining Equifax means we will be collaborating with sophisticated analytics teams and new cloud-based tools to help employers access the nearly real-time data and insights that help support critical financial and hiring decisions.”
Source: Martech News