Customers Benefit from Unmatched Visibility into the Labor Market Enabling More Effective Talent Planning, Acquisition and Deployment
ARLINGTON, Va. and QUEBEC CITY, Nov. 4, 2015 /PRNewswire/ -- CEB Inc. (NYSE: CEB), a best practice insight and technology company, today announced the acquisition of Wanted Technologies Corporation (TSX-V: WAN), a leading provider of real-time market intelligence and analytics for staffing and talent sourcing professionals. Today's announcement signals the successful completion of the previously announced plan of arrangement (the "Arrangement") and affirms CEB's commitment to equip HR leaders and other talent-focused executives with the insights and tools they need to inform workforce planning but that they can't access in a meaningful way today.
"We're laser focused on helping executives enhance the precision of their talent management investments," said Jesse Levin, CEB's Head of Corporate Strategy. "By marrying Wanted Technologies' deep knowledge of demand-side talent data with our existing CEB TalentNeuron supply-side analytics, we're giving our customers a view into the talent market economics that materially changes the approach to talent planning and recruiting. This new level of insight into trends in labor skills, demand, availability, and cost within and across geographies allows business and HR leaders to collaboratively set strategy with greater confidence and to predict the impact of talent investments on business outcomes."
CEB will continue to offer Wanted Technologies products on a largely stand-alone basis through year end. However, the company plans to accelerate both its CEB TalentNeuron and the Wanted Technologies capability and product roadmaps to address immediate and evolving customers' needs through a more integrated offering in 2016. The company will serve the largest installed base of customers across corporate, recruiting and staffing, and government sectors globally.
"We're proud of the work the Wanted Technologies team has done and the leadership position we've established in demand-side talent market and recruiting analytics," said Meredith E. Amdur, Wanted Technologies CEO. "Our product is essential to many of our customers, but we also know they will benefit greatly from having a richer suite. As part of CEB, we will have the tools and resources to give our customers exactly what they've been craving—and the ammunition to have meaningful, data-based conversations with their business partners around talent."
The Superior Court of Quebec granted a final order approving the Arrangement on November 3, 2015. Trading in the shares of Wanted Technologies ceased as of the opening of markets this morning, and those shares are expected to be delisted from the TSX Venture Exchange at the end of trading on or about November 6, 2015. Wanted Technologies also intends to apply as soon as practicable to cease to be a reporting issuer under applicable Canadian securities laws.
Pursuant to the Arrangement, CEB Inc., through its wholly-owned subsidiary CEB Canada Inc., acquired all of the issued and outstanding common shares of Wanted Technologies for CDN$1.79 in cash for each share. As a result of the completion of the Arrangement, Wanted Technologies is now an indirect wholly-owned subsidiary of CEB Inc.
Full details of the Arrangement and certain other matters are set out in the management information circular of Wanted Technologies dated October 1, 2015 (the "Information Circular"). In order to receive the cash consideration for shares of Wanted Technologies, registered shareholders must follow the instructions set out in the Information Circular. A copy of the definitive arrangement agreement, the Information Circular and other meeting materials can be found under the profile of Wanted Technologies on SEDAR at www.sedar.com.
For more information with respect to the Arrangement, see the joint press release issued by Wanted Technologies and CEB on September 11, 2015.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and under Canadian securities laws. Forward-looking statements are statements other than historical information or statements of current condition and relate to matters regarding the plan of arrangement, the delisting of the Wanted Technologies' common shares and Wanted Technologies' application to cease to be a reporting issuer under applicable Canadian securities laws. These forward-looking statements are identified by the use of such terms and phrases as "intends," "goal," "estimate," "expect," "project," "plans," "anticipates," "should," "will," "designed to," "believe," and other similar expressions which generally identify forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results and events to differ materially from those projected. Important factors that could cause actual results to differ materially include, but are not limited to: the success of near and longer term integration efforts between the companies; unexpected acquisition-related costs and expenses, competitive changes in the market place applicable to the products of Wanted Technologies, including, but not limited to the pace of growth or adoption rates of applicable products or technologies, shifts in focus among target customers, and other comparable changes in projected or anticipated markets; the depth, extent and duration of current and anticipated worldwide economic uncertainty, at both a macro level, and as it impacts both CEB Inc.'s and Wanted Technologies' historical products, industry, and market sector, as well as those of Wanted Technologies' following closing of the Arrangement, and CEB Inc.'s ability to forecast and achieve anticipated earnings in light of continuing economic uncertainty, including estimates applicable to Wanted Technologies, as well as resulting from the integration of Wanted Technologies' financial performance and results into CEB Inc.'s full financial results. Additionally, forward-looking statements should be considered in conjunction with the cautionary statements contained in the "Risk Factors" section and elsewhere in CEB Inc.'s most recent Annual Report on Form 10-K, in CEB Inc.'s other filings with the SEC, and in material incorporated therein by reference and those contained in the "Prospective Statements" section in Wanted Technologies' 2015 management's discussion and analysis, each as filed on SEDAR at www.sedar.com.
With respect to the forward-looking statements, CEB Inc. and Wanted Technologies have provided such statements and information in reliance on certain assumptions that they believe are reasonable at this time, including assumptions based on Wanted Technologies' and CEB Inc.'s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Readers are cautioned that the foregoing list of important factors and assumptions is not exhaustive. Forward-looking statements are not guarantees of future performance. In light of the significant uncertainties inherent in the forward-looking information included herein, any such forward-looking information should not be regarded as representations by either CEB Inc. or Wanted Technologies that its respective objectives or plans will be achieved. Investors are cautioned not to place undue reliance on any forward-looking information contained herein. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. In addition, these forward-looking statements relate to the date on which they are made. CEB Inc. and Wanted Technologies each disclaim any intention or obligation to update or revise any forward-looking statements or the foregoing list of factors, whether as a result of new information, future events or otherwise, except to the extent required by law.
About Wanted Technologies
Wanted Technologies was founded in 1999. The company's headquarters are in Quebec City, Canada, and it maintains a US-based subsidiary with primary offices in New York City. The company began collecting detailed Hiring Demand data in October 2002, and currently maintains a database of more than 1.2 billion unique job listings covering 22 markets worldwide.
About CEB Inc.
CEB Inc. is a best practice insight and technology company. In partnership with leading organizations around the globe, we develop innovative solutions to drive corporate performance. CEB Inc. equips leaders at more than 10,000 companies with the intelligence to effectively manage talent, customers, and operations. CEB is a trusted partner to 90% of the Fortune 500, nearly 75% of the Dow Jones Asian Titans, and more than 85% of the FTSE 100. More at cebglobal.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE CEB Inc.