Interesting moves in the global Talent acquisition tech market. On one hand this maps to the specialization by industry (tech) and geography (Germany) of HR tech providers. But, will Xing make a play to scale globally?
Xing, the business networking platform that has been described as Germany’s answer to LinkedIn, has made an acquisition to beef up its recruitment business ahead of a rebrand of the business as “New Work.” The company has acquired Honeypot, a German startup that has built a job-hunting platform for tech people, for up to €57 million ($64 million). Xing tells us that Honeypot is its biggest acquisition to date.The figure includes the acquisition (€22 million) plus a potential earn-out of up to €35 million if certain targets are met in the next three years.
Source: German LinkedIn rival Xing is rebranding as ‘New Work,’ acquires recruitment platform Honeypot for up to $64M | TechCrunch