Switzerland-based compensation management solution provider beqom has acquired Irish performance management platform Our Tandem, to transform how companies reward and recognise their people, attract and retain top talent, and address pay equity and transparency, the company said.
Terms of the transaction were not disclosed.
The combination of beqom and Our Tandem provides a continuous performance and rewards solution that offers personalised rewards aligned to real-time performance data and feedback, skills, behavior, and goals along the employee touchpoints, giving employees a feeling of purpose and engagement.
This one-of-a-kind solution ensures that rewards are individualised, fair, and within budget through a powerful optimisation and governance engine.
The companies will continue to operate under their respective brands while placing focus on integrating and growing both the Our Tandem and beqom teams and accelerating the combined product roadmap.
The acquisition was led by beqom and Sumeru Equity Partners, a technology-focussed growth capital firm that first backed beqom with a significant strategic investment. Venero Capital Advisors served as the financial advisor to Our Tandem.
beqom provides a cloud-based compensation management solution that unifies all compensation and rewards processes on a single platform, from salary and bonus to deferred incentives and sales commissions.
Its Tandem's dual-purpose performance platform coaches both managers and employees to ignite and sustain workplace cultures that inspire.
Hub International Acquires Seven Firms in Michigan, USA
SOCOTEC USA Acquires Code Consulting and Permit Expediting Firm Conversano Associates
GritCo Acquires US Software Developer Codesmith
R Systems Acquires India-Based Velotio to Deepen Product Engineering Capabilities
Finsemble Merges with Glue42 to Form interop.io to Strengthen Interoperabiity in Capital Markets
TreeHouse Foods to Acquire Farmer Brothers Texas Facility for USD 100m
AES Acquires 2 GW Bellefield Solar-Plus-Storage Project
Productlife to Merge with Pharma D&S Group to Expand Geographic Footprint in Italy
Interopay Acquires Rewardworks to Strengthen Position in B2B Payment Market
Cordata Acquires MedReportGuard to Expand Positive Impact on High-Risk Populations
GrowthCurve Capital Acquires Netchex to Accelerate Growth in Data Analytics and AI
SoftServe Acquires Hoverstate to Serve Growing Client Base
Southpaw Acquires Taco Bell Portfolio in Atlanta Area to Expand in Southeast