Wednesday 31 August 2022

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.