Firm Plans Increased Investment in PI Worldwide's Scientific Research and Technology
WELLESLEY, Mass., Nov. 5, 2014 /PRNewswire/ -- PI Worldwide, a leader in workforce analytics and science-driven insights that help optimize the performance and potential of individuals, teams, and organizations, today announced that it has been acquired by Phoenix Strategy Investments. Terms of the transaction were not disclosed.
Phoenix Strategy was familiar with PI Worldwide long before the acquisition – the company's founders have used the company's Predictive Index® (PI®) system to drive employee productivity and development for nearly a decade. According to Phoenix Strategy Investments Founding Partner Mike Zani, the firm will accelerate investments in PI Worldwide's scientific research and solution suites, which have gained widespread global adoption and driven exceptional company growth in recent years. More than 2.5 million Predictive Index® assessments have been completed to date in 2014.
"We are a different kind of investment firm – we focus on one deal at a time and become intimately involved at the executive level," said Zani, who will assume the role of Chief Executive Officer of PI Worldwide. "We have been big believers in PI Worldwide for a long time, and the investments we make now will deliver the tools our clients need to make the right hiring decisions and grow their businesses. Every initiative that we put forth will map to this mission."
PI Worldwide's headquarters will remain in its Wellesley office and the current management team will stay in place, with former CEO Nancy Martini assuming a new role as Chief Strategy Officer and remaining a member of the Board. Plans following the acquisition include accelerating the development of technology-enabled resources for applying workforce analytics, strategic investment in and further development of the licensee distribution channel and enhancing the current Software-as-a Service (SaaS)-based solution.
Robin Wood, President of Predictive Advantage and a PI Worldwide Licensee for 17 years based in London commented on the acquisition, "We have a proud 60 year history of delivering great products and strong local expertise that enable our clients to be more successful at hiring, managing and developing employees. This acquisition brings an exciting new opportunity for business acceleration that will allow our network of consultants to deliver expanded value to our global client base."
About PI Worldwide Trusted advisors to a global client base, PI Worldwide and the 400 experienced consultants at our 45 member firms change the way clients find the right people, develop leaders at all levels, and achieve growth goals. Founded in 1955, PI Worldwide pioneered a new approach, based on the Predictive Index® assessment, for optimizing the performance and potential of individuals, teams and organizations. The company offers a unique combination of behavior and skill assessments based on a proven methodology incorporating data, technology, knowledge, and business expertise. More than 8,000 clients drive dramatically better business results by leveraging our data-driven solutions in 142 countries. Learn more at www.piworldwide.com.