Magnit (formerly PRO Unlimited) to Acquire Workforce Logiq via Agreement with EQT Private Equity to Create Leading Global Workforce Management Solutions Provider

The combination of two leading-edge, global companies creates stronger model for contingent workforce management

SAN FRANCISCO & ORLANDO, Fla.--(BUSINESS WIRE)--PRO Unlimited, a leading modern workforce management platform provider, today announced that, through an agreement with EQT Private Equity, it will acquire Workforce Logiq from funds managed by Carlyle later this year, subject to customary regulatory approvals. This transaction will combine two leading-edge companies that share a common strategic approach in solving its diversified clients’ contingent workforce management needs through the power of a holistic platform. This combination will expand PRO’s position as a preferred provider to the Global 2000, enabling organizations to achieve their strategic talent acquisition and cost reduction objectives.

Through these transactions, PRO will add Workforce Logiq’s proven and strong track record of innovation and growth, including 16 patented and patent-pending solutions, dedicated data science and development teams, and an award-winning Total Talent Intelligence® technology platform to its portfolio. Additionally, Workforce Logiq’s strong presence in EMEA, specifically in the Nordics, expands PRO’s already impressive global reach. As a result, PRO will enhance the scale and breadth of operations to enable the continued global expansion of its large and mid-market client base worldwide.

“Bringing Workforce Logiq into the PRO Unlimited family will allow us to extend our reach and synthesize two like-minded entities that share the same strategy and platform approach to contingent workforce management,” said Kevin Akeroyd, CEO at PRO Unlimited. “The addition of its software and services into our platform will continue our tradition of eliminating the need for costly and inefficient point solutions to manage contingent labor. The result is a more optimal experience for clients looking to modernize mission-critical non-employee workforce programs, which have now become a top four spend category in most corporations.”

Many of the largest and most sophisticated enterprises in the world rely on PRO and Workforce Logiq’s software and services to achieve greater efficiencies, cost savings, and talent quality in the 50% of the workforce that is contingent (non-full-time).

“We are thankful for the leadership of Carlyle these past four years, and grateful for their counsel and strategic investments that have fundamentally transformed our company,” said Jim Burke, CEO at Workforce Logiq. “We continue our transformation journey with PRO. As one company, we will create a new choice for a scaled, global platform serving clients virtually anywhere in the world, continue to reimagine how companies achieve greater management, performance, and financial control over their workforce and talent supply chains, and offer our employees new opportunities for professional growth.”

The transaction is subject to customary conditions and approvals. It is expected to close in late Q3 2021. PRO was advised by Sidley Austin LLP. Jefferies LLC served as exclusive financial advisor to Workforce Logiq, and Latham & Watkins served as legal advisor.

About PRO Unlimited
PRO Unlimited offers the industry's most comprehensive and holistic platform for contingent workforce management, and helps organizations around the world address the costs, risks and quality issues associated with managing the non-employee workforce. PRO's platform consists of integrated SaaS software and services solutions that are built on the world's most robust contingent workforce data set, spanning over 30 years. A pioneer and innovator in the industry, PRO's platform provides solutions for the procurement and management of contingent labor, global rate intelligence, direct sourcing, 1099/co-employment risk management, third-party payroll, and diversity and inclusion. http://www.prounlimited.com

About Workforce Logiq
Workforce Logiq, a global provider of AI-powered workforce intelligence, technology, and services to large corporations, enables organizations to win and retain the talent they need to grow. Workforce Logiq provides its global client base with expert guidance, real-time and predictive analytics, and patented and award-winning technologies to help clients attain greater management, performance, and financial control over their talent supply chains.

Workforce Logiq was ranked the #1 global MSP provider for customer satisfaction for two consecutive years in HRO Today’s Baker’s Dozen Rankings. For more information, visit www.workforcelogiq.com.

Contact
Brad Martin, Head of Global Marketing, PRO Unlimited 
bmartin@prounlimited.com 
904-614-9719