Peopleclick sold for $100 million
Peopleclick, a Raleigh company that makes human resources software, has been purchased by New York private equity firm Bedford Funding for about $100 million, the companies announced Tuesday.
Bedford owns Massachusetts company Authoria Inc., a Peopleclick competitor. Bedford will merge the two makers of human-resources software into a combined entity called Peopleclick Authoria.
Charles S. Jones, managing partner of Bedford Funding, will become chairman and CEO of Peopleclick Authoria, working from the private equity firm's White Plains, N.Y., headquarters. At this point, the new company does not have specific plans to choose a headquarters in either Raleigh or Waltham, a spokeswoman said business?ards.
Bedford bought Waltham, Mass.-based Authoria, in 2008 for $63.1 million and immediately committed to invest $8 million more in the company, which makes talent management software. Peopleclick makes talent acquisition software. Bedford plans to integrate the two companies' products to include more analytics capability, the firm said in a press release.