Tribridge Enters Human Capital Management (HCM) Market with Acquisition of Leading Services Firm Intelladon
TAMPA, Fla., July 2, 2013 /PRNewswire/ -- Tribridge, a technology services firm specializing in business applications and cloud solutions, today announced the acquisition of Tampa-based Intelladon, a talent management solutions consultant and integrator. Intelladon's innovative solutions and strategic partnerships with leading talent management software providers will give Tribridge a foothold into the burgeoning Human Capital Management (HCM) market and strengthen the firm's cloud offerings.
Talent management is a subset of the larger HCM industry, and research firm Gartner expects HCM products to reach $10 billion by 2015. Talent management alone is expected to reach $4.5 billion – with 75 percent of available solutions expected to be cloud-based.
"Intelladon and Tribridge have been close partners for many years, and our two companies share complementary cultures, high-growth strategies and a continual focus on delivering greater innovation and service to our customers," said Tony DiBenedetto, Tribridge chairman and CEO. "The demand for technologies and systems that help companies better manage, train and empower the workforce is rapidly increasing, and Intelladon's deep expertise and leadership in the talent management industry will enable us to offer our nearly 4,000 customers the best solutions on the market."
Founded in 2001, Intelladon is a leading global integration and consulting organization focused exclusively on the talent and learning market. Through strategic relationships with organizations such as Cornerstone OnDemand, Skillsoft and dominKnow, Intelladon has developed a full suite of services that enable organizations to maximize their HCM technology investments. The company's life-cycle support services help enterprises achieve learning and performance objectives, improve system optimization and end-user adoption, and focus internal resources on strategic business initiatives. Intelladon's Cornerstone-certified consulting staff has supported engagements of Cornerstone's cloud-based talent management software suite since 2008.
"We believe this acquisition is a win-win for our two teams. Intelladon customers can expect 'business as usual,' and the outstanding service and support to which they are accustomed will continue without interruption," said Marc Blumenthal, Intelladon CEO. "Joining forces with Tribridge will provide Intelladon with greater access to capital and operational resources, as well as shared opportunities for expansion as we continue to build our talent management offerings and relationships with our strategic partners. Tribridge's renowned Microsoft capabilities and heavy investment in the cloud will also offer us a platform for extending their comprehensive line of services to our customers, as well as create exciting career development opportunities for new and existing team members."
DiBenedetto and Blumenthal cite the tremendous market penetration opportunity within the Human Capital Management space as the impetus for the acquisition. Bersin by Deloitte recently announced new research showing that after years of belt-tightening, most (61 percent) HR professionals surveyed indicate that they plan to replace their HR software within the next 18 months.
The sustained growth and market leadership of talent management software providers such as Cornerstone continue to drive the demand for Intelladon's expertise in strategic consulting, implementations, managed services and content services.
"Cornerstone's long-term, strategic relationship with Intelladon has been a driving force behind our shared success, and we are delighted they are teaming with Tribridge to extend talent management solutions to our rapidly growing customer base," said Adam Miller, founder and CEO of Cornerstone OnDemand. "Tribridge is a proven leader in ERP and CRM technologies, and the firm's early cloud adoption and innovative portfolio of services will complement Cornerstone's focus on helping organizations effectively empower an ever-changing workforce."
The acquisition results in the formation of Intelladon, a Tribridge company, and Blumenthal will serve as president. Intelladon's nearly 100 employees will continue operations, and the company's office headquarters will remain open. Financial terms of the transaction will not be disclosed.
Founded in 1998, Tribridge is a technology services firm specializing in business applications and cloud solutions. The firm helps mid-market and enterprise customers solve their business challenges through Cloud Computing, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Application Development, Portals & Collaboration, Security & Infrastructure and Human Capital Management (HCM). With a focus on industry-specific solutions, a 100% "go live" track record and deep experience implementing Microsoft, Cornerstone OnDemand and other enterprise technologies, the Tribridge team of nearly 600 professionals operates with an unwavering commitment to provide exceptional service and support, drive measurable results and build lasting partnerships with the firm's 3,750 customers.