Acquisition to Accelerate Bullhorn’s Growth and Product Plans
BOSTON, MA (June 14, 2012) ― Bullhorn, Inc., the market leading recruiting software company, today announced that it has been acquired by Vista Equity Partners, a private equity firm with over $6.6 billion in committed capital. Operating as a stand-alone company, Bullhorn’s management team is well placed to guide the company through its next phase of growth focusing on increasing their product portfolio and geographic expansion.
“Our great customers and employees have afforded Bullhorn exponential growth over the last decade,” said Art Papas, co-founder and CEO of Bullhorn. “We’re thrilled to deliver such an outstanding return to our stockholders and to continue to build upon our success with the great team at Vista. Vista’s financial strength and extensive software industry experience make them an ideal partner to help us realize our aggressive plans for product development and global expansion while maintaining high levels of satisfaction and support for our current customers.”
Founded in 1999, Bullhorn pioneered the software-as-a-service (SaaS) model for staffing and recruiting software as well as innovations in mobile, candidate search, open API access, and social recruiting just to name a few. In 2011, Bullhorn marked significant growth, increasing revenue by 40 percent and adding 400 new clients. Today, more than 100,000 staffing and recruiting professionals across 126 countries use Bullhorn to grow their businesses, from ambitious start-ups to industry leaders such as Kelly Services and Randstad. The Bullhorn platform handles over a billion transactions each month with unrivaled reliability and has supported an estimated $100 billion in client revenue. Among Bullhorn’s many growth milestones are inclusion on the Deloitte Technology Fast 500, the Inc. 5,000 and the Boston Business Journal Pacesetters.
“Forty percent growth year-over-year is impressive at any time, but achieving that level of growth in a challenging economic climate is an even greater testament to the strength of the Bullhorn team. Bullhorn has shown that innovation can drive incredible growth in any economy,” said Alan Cline, principal and co-head of Vista Equity Partners Foundation Fund. “By combining our resources and expertise with this great management team and the talented employees of Bullhorn, we see a tremendous opportunity on the horizon as we work together to fuel the next stage of the company’s growth.”