MSX International Closes Acquisition of IQNavigator's MSP Division
IQNavigator Tightens Focus on Technology; Becomes Largest Independent VMS Provider
MSX International Integrates New MSP Experts and Launches Geometric Results Inc.; Becomes Largest Independent MSP
DENVER and DETROIT, Aug. 4, 2014 /PRNewswire/ -- IQNavigator, the leading provider of non-employee workforce management solutions to Global 2000 companies, and MSX International, a leading global business process outsourcing, training, and human capital management company, today announced that IQNavigator has sold its managed service provider (MSP) division to MSX International, Inc. (MSXI).
MSXI will combine its existing MSP business with IQNavigator's MSP operations to form Geometric Results, Inc. (GRI), a new global human capital services company that becomes the world's largest independent MSP. Terms of the deal were not disclosed.
"MSXI has always created value for our customers, partners, employees and shareholders. GRI will combine the best practices of these two world-class MSP organizations with unparalleled experience. Being the world's largest independent MSP is a testament to the success and customer focus of MSP operations of MSXI and IQN. GRI's independence signals to customers across all industries that our economic interests are in alignment. With GRI solely focused on MSP services, we will deliver new levels of innovation and leadership to help our clients solve their greatest workforce management challenges," said Fred Minturn, CEO of MSX International.
The sale of the division to MSXI enables IQNavigator to focus on its core business of delivering technology solutions that help global enterprises better manage their non-employee workforces, and furthers its position as the largest independent VMS provider.
"IQNavigator is a technology company with a vision that focuses on the value we deliver to our community of customers and partners," said Joe Juliano, president and CEO, IQNavigator. "We value the MSP team's significant contributions to IQNavigator and have full confidence that they will continue to thrive and add value at Geometric Results. The sale of the MSP division will allow us to be laser focused on building and delivering a technology solution that includes the right functionality and new levels of innovation that will help global companies make better labor decisions."
The significant talent and years of MSP thought leadership within both MSXI and IQNavigator will enable the team to integrate easily. The similarities of both cultures, each with a quantified track record and commitment to service delivery excellence, will ensure their customers will derive even greater benefit from this newly established enterprise.
IQNavigator and MSXI have a strong and enduring partnership that will continue after the close of this transaction. The separate companies will focus on their core strengths while offering trusted resources and differentiated customer-focused options for enterprise companies needing a global end-to-end vendor-neutral solution for contingent labor and services procurement.
About Geometric Results, Inc.
Geometric Results, Inc. (GRI) is a wholly-owned subsidiary of MSX International (MSXI). With nearly $4 billion in managed contingent workforce spend, GRI is the world's largest independent managed service provider (MSP). GRI maximizes the benefits of a contingent workforce on organizational performance on behalf of customers by maintaining a conflict free position relative to staffing suppliers and technology platforms. GRI's proprietary data analytics service, the STARS Methodology for Continuous Improvement™, delivers efficiency gains and enhances transparency to a diverse customer base in more than 30 countries. To learn more about how Detroit-based GRI can enhance your talent acquisition and management strategies, please visit www.GeometricResultsInc.com.
About MSX International, Inc.
MSX International (MSXI) is a business process outsourcing company that provides technology based services to enterprises in more than 80 countries. The Retail Network Solutions group partners with global automakers to enhance the retail customer lifecycle by streamlining business processes to positively impact revenue and performance. The Human Capital Solutions group provides professional and technical staffing services on a temporary, temporary-to-hire and direct-hire basis. To learn more about Detroit-based MSXI, please visit www.msxi.com.
IQNavigator is the leading independent technology provider of Vendor Management System (VMS) software for Global 2000 companies. IQNavigator's products enable enterprises to intelligently manage and optimize complex services procurement and contingent workforce programs. Since 1999, IQNavigator's products have been delivering procurement visibility and predictability, helping corporate leaders around the globe increase profitability, mitigate risk and compete more effectively. For more information about IQNavigator and its software, visit www.IQNavigator.com.