TROY, Mich., March 9, 2022 /PRNewswire/ -- Kelly® (Nasdaq:
KELYA) (Nasdaq: KELYB) today announced that it has
acquired RocketPower, a leading provider of Recruitment
Process Outsourcing (RPO) and other outsourced talent solutions.
RocketPower's customers include rapidly scaling U.S. tech companies
known for disrupting industries and changing the world.
Headquartered in Silicon Valley, Calif., RocketPower will continue
to operate under its own brand with its current leadership team and
staff as part of KellyOCG, the outsourcing and consulting business
of Kelly. Terms of the acquisition were not disclosed.
![Kelly Logo (PRNewsfoto/Kelly Services, Inc.) Kelly Logo (PRNewsfoto/Kelly Services, Inc.)](https://mma.prnewswire.com/media/1745157/Kelly_Logo.jpg)
With 2021 revenue of $28 million,
RocketPower has achieved impressive year-over-year growth despite
the pandemic and anticipates triple-digit growth in 2022 and
beyond. Its growth reflects the increased demand for leading RPO
providers to help organizations augment and rebuild their talent
acquisition capabilities and full-time workforce as they navigate
the rapidly changing talent acquisition landscape.
"We are excited to welcome RocketPower to Kelly; it's a
compelling proof point of the strategy behind the APAC transactions
we announced last month to unlock capital and redeploy it to add
high-margin, high-growth assets to our core businesses. With our
acquisition of RocketPower, we've done just that by adding a
business to KellyOCG whose strategy and emphasis on RPO and
high-tech talent aligns with our growth priorities," said
Peter Quigley, president and chief
executive officer of Kelly.
Organizations are increasingly realizing the value of expert RPO
providers to support their talent acquisition needs. RPO is one of
the fastest-growing outsourcing markets in the world experiencing
double-digit growth in the past few years. Projections for the 2022
global RPO market are expected to exceed $5
billion surpassing pre-pandemic levels.
"The pandemic coupled with fluctuating talent acquisition trends
are driving tremendous growth in the RPO market now more than
ever," said Tammy Browning,
president of KellyOCG. "This acquisition significantly expands
KellyOCG's RPO solution and delivery offering across the globe and
enhances our specialty RPO strategy and expertise and provides us
with another entry point into the high-tech industry. We're
thrilled about the possibilities that will come from this
partnership with RocketPower and elevating our position to become
one of the top RPO providers in the market."
"RocketPower is excited to join the Kelly team and take the next
step to build upon our solid foundation for growth," said
Mathew Caldwell, founder and chief
executive officer of RocketPower. "Together, RocketPower and Kelly
will be a force to reckon with in the RPO market. Kelly's
long-standing commitment to leadership in the RPO industry, its
aggressive growth strategy, ongoing tech investments, and its deep
expertise – combined with RocketPower's unique delivery model and
strong talent acquisition experience – will empower our collective
team to unlock tremendous growth opportunities and continue
delivering considerable value to our clients and to our team."
This release contains statements that are forward looking in
nature and, accordingly, are subject to risks and uncertainties.
These factors include, but are not limited to, changing market and
economic conditions, the impact of the novel coronavirus (COVID-19)
outbreak, competitive market pressures including pricing and
technology introductions and disruptions, disruption in the labor
market and weakened demand for human capital resulting from
technological advances, competition law risks, the impact of
changes in laws and regulations (including federal, state and
international tax laws), unexpected changes in claim trends on
workers' compensation, unemployment, disability and medical benefit
plans, or the risk of additional tax liabilities in excess of our
estimates, our ability to achieve our business strategy, our
ability to successfully develop new service offerings, material
changes in demand from or loss of large corporate customers as well
as changes in their buying practices, risks particular to doing
business with government or government contractors, the risk of
damage to our brand, our exposure to risks associated with services
outside traditional staffing, including business process
outsourcing, services of licensed professionals and services
connecting talent to independent work, our increasing dependency on
third parties for the execution of critical functions, our ability
to effectively implement and manage our information technology
strategy, the risks associated with past and future acquisitions,
including risk of related impairment of goodwill and intangible
assets, exposure to risks associated with investments in equity
affiliates including PersolKelly Pte. Ltd., risks associated with
conducting business in foreign countries, including foreign
currency fluctuations, the exposure to potential market and
currency exchange risks relating to our investment in Persol
Holdings until its disposition, risks associated with violations of
anti-corruption, trade protection and other laws and regulations,
availability of qualified full-time employees, availability of
temporary workers with appropriate skills required by customers,
liabilities for employment-related claims and losses, including
class action lawsuits and collective actions, our ability to
sustain critical business applications through our key data
centers, risks arising from failure to preserve the privacy of
information entrusted to us or to meet our obligations under global
privacy laws, the risk of cyberattacks or other breaches of network
or information technology security, our ability to realize value
from our tax credit and net operating loss carryforwards, our
ability to maintain specified financial covenants in our bank
facilities to continue to access credit markets, and other risks,
uncertainties and factors discussed in this release and in the
Company's filings with the Securities and Exchange
Commission. Actual results may differ materially from any
forward-looking statements contained herein, and we undertake no
duty to update any forward-looking statement to conform the
statement to actual results or changes in the Company's
expectations.
About Kelly®
Kelly (Nasdaq: KELYA,
KELYB) connects talented people to companies in need of their
skills in areas including Science, Engineering, Education, Office,
Contact Center, Light Industrial, and more. We're always thinking
about what's next in the evolving world of work, and we help people
ditch the script on old ways of thinking and embrace the value of
all workstyles in the workplace. We directly employ nearly 350,000
people around the world and connect thousands more with work
through our global network of talent suppliers and partners in our
outsourcing and consulting practice. Revenue in 2021
was $4.9 billion. Visit kellyservices.com and let us
help with what's next for you.
About KellyOCG®
KellyOCG connects companies with the talented people they need to
fuel and grow their business through our unrivaled global talent
supply chain and leading workforce solutions including Managed
Service Provider (MSP) and Recruitment Process Outsourcing (RPO).
We combine decades of people industry experience with proprietary
insights and a continued focus on technology to produce world-class
programs that meet an organization's unique workforce needs and can
start them on their journey to total talent management. Our ability
to anticipate what's next for talent solutions drives us to
challenge the status quo making us a trusted partner for our global
client portfolio, which spans leading industries across
North America, APAC and EMEA.
Visit kellyocg.com or connect with us
on LinkedIn to learn more.
About RocketPower
Based in San Francisco, RocketPower provides talent
solutions to rapidly scaling technology companies that are
disrupting industries and literally changing the world. Our four
practices (Recruiting Process Outsourcing, Recruiting for
Recruiters, Executive Search, and HR Process Outsourcing) meet the
most pressing needs of our clients across mission-critical
engineering, product, operations, and go-to-market roles. We're
awed by the disruptions our clients are causing in their
industries, and we're humbled to play a key role in finding their
people because: People Power Business. For more information, please
visit www.rocketpower.io.
Contact Information:
Media
Contact:
Cynthia Carey
KellyOCG
cynthia.carey@kellyservices.com
248-462-3021
|
Analyst
Contact:
Jim Polehna
Kelly Services
polehjm@kellyservices.com
248-244-4586
|
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SOURCE Kelly Services, Inc.