Impellam Group plc Acquisition of AI Powered Staffing Platform

TIDMIPEL

Impellam Group plc

09 July 2019

LONDON, UK, 9(th) JULY: IMPELLAM GROUP PLC ACQUIRES FLEXY, AN AI POWERED STAFFING PLATFORM

Impellam Group PLC, the 2(nd) largest staffing business in the UK and 6(th) largest MSP worldwide has acquired Flexy Corporation Limited (www.flexy.com), a leading flexible staffing platform based in London.

Founded in 2015, Flexy uses psychometrics, machine learning, and nudge theory to unlock local talent. It was designed and built by a team of psychologists, recruitment experts, and digital architects to streamline the casual labour market. Flexy enables meaningful connections between companies looking for flexible labour and individuals looking for flexible work.

Flexy provides an innovative, data-driven analysis platform to provide insights and consumer-grade digital experiences. The efficiency gained through the utilisation of technology combined with Impellam's deep staffing experience will augment our portfolio and service offering to customers and candidates.

Impellam will pay approximately GBP3 million in cash for the business up front, which generated revenue of GBP626k in the financial year ended 30(th) April 2019 and has achieved compound annual growth of 175% over the past two years. Additional consideration may be payable to the vendors of Flexy subject to achievement of future performance conditions.

Oliver Crofton, Managing Director, Flexy, added: "We are delighted to be joining Impellam and to sit alongside such trusted recruitment brands. We developed Flexy to help companies leverage the power of technology to reach local candidates, and now with the backing of Impellam, we can accelerate our growth in this exciting and evolving recruitment landscape".

Julia Robertson, Group CEO, Impellam Group: "The strategic partnership with Flexy combines digital capabilities and technologies with our current portfolio's deep heritage and expertise; to offer new solutions, more choice, and better, technology-led experiences for customers and candidates alike".

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For further information please contact:

Impellam Group plc

Julia Robertson, Group Chief Executive Tel: + 44 (0)1582 692658

Cenkos Securities plc (NOMAD and Corporate Broker to Impellam)

Nicholas Wells Tel: [phone]

Callum Davidson

Note to Editors:

Impellam is the second largest(1) staffing company in the UK and sixth largest(2) Managed Services provider worldwide. Our vision is to be the world's most trusted staffing company - trusted by our people, our customers and our investors in equal measure. We provide Managed Services and Specialist Staffing solutions across the UK, Europe, US, the Middle East and Australasia. We have over 3,200 Impellam people throughout our network of 17 market-leading brands across 165 worldwide locations. Impellam Group's mission is to provide fulfilment and a sense of purpose to our people and to help customers build better businesses in a changing world.

For more information about Impellam Group please visit:

www.impellam.com

1 By revenue (2017 published numbers)

2 By SUM (confirmed by Staffing Industry Analysts. Spend Under Management (SUM) is the total amount of client expenditure which our Managed Services brands manage on behalf of their clients. This equates to revenue earned where Impellam acts as principal plus gross billings to customers where Impellam acts as agent (2017 published numbers). Management use this measure as it reflects the total value of the client spend to the Group and not just the revenue generated

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(END) Dow Jones Newswires

July 09, 2019 04:32 ET (08:32 GMT)