DGAP-News: XING AG / Key word(s): Takeover
XING AG: XING AG buys eqipia - the leading technology for intelligent
employee referrals in Switzerland (news with additional features)
14.04.2016 / 11:37
The issuer is solely responsible for the content of this announcement.
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XING AG buys eqipia - the leading technology for intelligent employee
referrals in Switzerland
- The purchase price is set at CHF 3.2m and can be increased by up to CHF
4.8m.
- XING CEO Vollmoeller: "XING asserts its position as the leader in
innovative recruiting solutions with this acquisition."
Hamburg/Zurich, 14 April 2016 - XING AG (O1BC/ISINDE000XNG888) has acquired
the Zurich company BuddyBroker AG and its product eqipia effective
immediately. eqipia is the leading intelligent and automated employee
referral programme in Switzerland. The purchase price is set at CHF 3.2m.
An earn-out payment of up to CHF 4.8m may also take effect if the operative
goals are reached. BuddyBroker AG has seven employees who will all continue
working for the company. Both founders, Flurin Müller (30) and Patrick
Mollet (39), will stay on board to drive the product's further development.
Companies like Migros, Swisscom, SBB, Zühlke, BKW (Bernische Kraftwerke)
and EMC have already begun using eqipia successfully.
Employee referrals are on the rise in HR. In the USA, around 40 percent of
all new hires can be attributed to referrals from employees. Employee
referrals are already the most effective recruiting tool in the
German-speaking world today. Most companies have implemented a bonus
programme in order to make use of employee referrals. This, however, is a
manual process that is inefficient and time-consuming for both HR and
employees.
The "eqipia ReferralManager" digitalises and automates this complex
process. It analyses employees' networks, which it can access via their
XING profiles, and identifies suitable colleagues using a matching
algorithm. These potential candidates can then be contacted automatically
via the tool, significantly reducing the workload in HR. The employees
concerned receive all the important information about the vacancy and can
pass this on to their contacts. HR departments then receive transparent
reports about the success of the recruiting tool. They also have the option
of awarding a bonus for the successful referral of a contact.
XING CEO Vollmoeller: "XING emphasizes its position as the leader for
innovative recruiting solutions with this acquisition."
XING CEO Thomas Vollmoeller: "An automated solution for employee referrals
is the superior recruitment tool. The advantage for companies: They can
find better qualified candidates at much lower costs and much more quickly
than with traditional methods. Their own employees serve as ambassadors for
the company and the process of approaching candidates is personal, reliable
and purposeful. As a result, the proportion of employees recruited on the
basis of referrals is very high. eqipia is an outstanding product in this
area. It offers typical Swiss precision and fits perfectly with XING. The
acquisition of eqipia asserts XING's position as a leader in innovative
recruitment solutions."
Founders Flurin Müller and Patrick Mollet are looking forward to the
integration with XING: "With XING we can implement our product visions even
faster and achieve even better results for our customers. XING's
established distribution network enables us to offer eqipia in the German
speaking region in one fell swoop."
The eqipia ReferralManager is available immediately as a part of XING's
e-recruiting range at recruiting.xing.com/eqipia. For the launch, XING is
offering a special on the eqipia ReferralManager. XING is also developing a
solution that is completely integrated into the XING platform. This will be
presented at the "HRM Expo" (Zukunft Personal) in Cologne.
Press contact:
Marc-Sven Kopka
Vice President of External Affairs
XING AG,
+49 40-419131-763
presse@xing.com
https://www.xing.com/profile/MarcSven_Kopka/Marc-Sven_Kopka
About XING
The leading online business network in German-speaking countries supports
its members in mastering the transformations taking place in the world of
work. XING helps its more than 10 million members to balance their
professional and private life as well as possible within an environment
defined by a lack of skilled workers, digitalisation and changing values.
To this end, members can visit XING Jobs to look for vacancies that appeal
to them, stay up-to-date with news offers by XING, or browse the
German-language portal XING spielraum to find out about the trends and
changes taking place in the new world of work. At the start of 2015, XING
added Jobbörse.com, the largest jobs search engine in German-speaking
countries, to its portfolio. Before that, XING had acquired kununu, which
as the principal employer review platform in German-speaking countries
served to strengthen XING's leading position within the field of social
recruiting. XING was founded in Hamburg, Germany, in 2003, has been
publicly listed since 2006, and listed on the TecDAX since September 2011.
Members can meet and exchange views in over 70,000 groups, while also
getting together at more than 150,000 business-related events every year.
More than 10.5 million people use the XING platforms in the core
German-speaking market, and over 10 million of them are XING members. XING
has almost 800 employees at offices in Hamburg, Munich, Aschaffenburg,
Barcelona and Vienna. Visit www.xing.com for more information.
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Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=VLCVTVFUVH
Document title: XING_acquires_eqipia_pres_release
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14.04.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: XING AG
Dammtorstraße 30
20354 Hamburg
Germany
Phone: +49 (0)40 419 131-793
Fax: +49 (0)40 419 131-44
E-mail: investor-relations@xing.com
Internet: www.xing.com
ISIN: DE000XNG8888
WKN: XNG888
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart; Terminbörse EUREX
End of News DGAP News Service
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454273 14.04.2016
DGAP-News: XING AG: XING AG buys eqipia - the leading technology for intelligent employee referrals in Switzerland (news with additional features)
| Source: EQS Group AG