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Silverback United, Closes $14 Million Acquisition of Market Leader in Data Driven Recruitment Software

Transaction accelerates Silverback’s growth as the leading technology company monetizing “data as an asset.”

Silverback United, announced the acquisition of UK based Headstart AI, Inc. in an all-stock transaction. The acquisition will be immediately accretive and will accelerate its strategy for the assetization of data on a global basis. Headstart.io will remain an independent wholly owned subsidiary of Silverback and will continue to be headquartered in London, UK. Spear Point Advisors, LLC (“Spear Point”) served as Silverback’s exclusive financial advisor for the transaction.

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The acquisition is part of Silverback’s strategy to build highly valuable, vertically specific data companies that can leverage Silverback’s DICE data valuation engine’s proprietary technology and data valuation capabilities. Silverback will also pursue an aggressive organic growth strategy at Headstart, with significant opportunities to expand to organizations in the US market. Silverback CEO Ron Bienvenu will serve as the interim CEO of Headstart during this integration period, and Nicholas Shekerdemian, Headstart’s Co-Founder and Executive Chairman will be joining Silverback’s Board of Directors as Vice Chairman.

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Silverback’s CEO Ron Bienvenu noted, “We have assembled a veteran team of tech and data industry experts at Silverback aimed at acquiring and integrating data-rich, EBITDA accretive businesses. After reviewing dozens of companies in the human capital industry, it was clear to us that Headstart had the most data-rich technology platform available. Adding Headstart to our existing portfolio of businesses will allow us to leverage our data valuation and monetization platform known as ‘DICE’ to create additional high-value, recurring revenue streams. Just as importantly, the team at Headstart brings cutting-edge data scientists, programmers and customer success professionals that will enhance our broader team strength. That combination of professional capabilities and services combined with unmatched technology is why companies like Accenture and many others rely on Headstart to ensure their global hiring practices result in the best candidates filling critical roles in the fairest and most equitable way possible.”

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Nicholas Shekerdemian, Headstart’s Executive Chairman, noted, “Over the past six years we have been fanatically focused on bringing innovative technologies and data science capabilities to the human capital industry to ensure fairness and efficiency in global hiring practices. With this transaction, we see two significant drivers for near-term growth and long-term success, namely: Silverback’s unique data valuation and monetization capabilities will lead to the delivery of new data-driven products for existing and future customers, and; greater access to the US market and further global expansion of our core platform. What’s more, being part of a publicly traded company, we will now have access to alternative capital formation strategies and M&A driven growth opportunities. As the world faces uncertain economic times, we believe this combination of our case-studied history of creating greater equity and fairness through our platform for some of the world’s most notable companies, and Silverback’s ability to access capital markets will present unique opportunities to consolidate the human capital market and build significant scale and innovation.” Mr. Shekerdemian will immediately serve as a strategic advisor to Silverback in his executive role on the Board of Directors of Silverback.

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