Xing AG is taking over the Vienna-based Prescreen recruiting start-up in a deal worth EUR 17 million, a press release on the Xing webpage said Monday (July 10, 2017). The price could increase by EUR 5 million to EUR 10 million should Prescreen achieve the new owner’s business objectives by 2020, the statement added. Prescreen is an emerging provider of Applicant Tracking System (ATS) that allows companies to find suitable applicants with cloud-based software. ATS solutions mean companies can launch job vacancies on their own webpages and in networks and job portals in addition to documenting and categorising applications and setting up a talent pool for future vacancies.
Linking Prescreen with Xing’s e-recruiting products
Prescreen has around 350 corporate clients including many small and mid-sized companies as well as larger companies e.g. Beiersdorf, Ströer and Unicredit Bank Austria. Prescreen employs 27 staff at present. The team of seven founders, led by Constantin Wintoniak, CEO, will focus on linking Prescreen with Xing’s existing e-recruiting products and offering clients an all-round service – from the personnel search to identifiying and hiring the candidate. Wintoniak said Xing is “the ideal partner” for the start-up and the takeover would accelerate Prescreen’s growth.
Software-based recruiting management
Commenting on the takeover, Thomas Vollmoeller, CEO of Xing AG, said: “Xing is already the leading provider of modern e-recruiting. We are expanding our position by purchasing Prescreen.“ Alastair Bruce, CSO of Xing, and a member of the board with responsibility for B2B business, added: “The new member of the Xing family allows us to offer personnel managers the opportunity of managing the entire vacancy and hiring process based on software effectively and efficiently. Prescreen is an open system and can be used in networks other than Xing or in connection with any given job portal. That will remain the case.”