STOCKHOLM, 9 December 2021 – Swedish HR-technology company Assessio today announces the acquisition of People Test Systems.
Main Capital Partners, Europe’s leading software investor, backed the company in 2019 with the goal for Assessio to become the market leader in Europe for HR-technology and digital recruitment services. After completion of its second add-on acquisition in the Netherlands in October, the Assessio Group is now further expanding in the Nordic region with the acquisition of Danish e-assessment company, People Test Systems (“PTS”).
Together with PTS, Assessio remains focused on its intention to help make the Nordic labour market both fair and inclusive. “We are so happy to be able to work together with PTS on this shared goal. PTS is well known for its innovative view of HR practices, while their procedures entirely complement the Assessio Group offering. As a market leader in the Nordic region, we will now be able to offer our customers a full-scale suite of products and services, with state-of-the-art tools based on revolutionary research in work psychology,” said Pär Cederholm, CEO and Partner of the Assessio Group.
“In recent years, we have grown significantly and are today so strong in the market that it is time to become part of something bigger and more international. Our customers will continue to be able to enjoy our high quality and extensive service offering but we can now give them greater access to a broader range of products and additional expertise. Assessio places a keen focus on the delivery of quality and also approaches HR testing in the same way; these factors were decisive in our choice to merge with the Assessio Group,” added Torben Tolstøj, CEO and majority shareholder at PTS.
European leader in HR-technology
Swedish-founded Assessio has been developing psychological tests for over 65 years. In 2019, the Dutch investment company Main Capital Partners added Assessio to its portfolio since when, with their active support Assessio has developed a cross-border buy-and-build strategy in pursuit of market leadership in Europe for HR-tech and digital solutions for recruitment / talent management.
Since then, Assessio has acquired the Dutch companies HFMtalentindex and Eelloo, which are now part of the Assessio Group. With PTS as its latest addition, the Assessio Group now has approximately 130 employees and offers services to more than 1,500 customers with a combined turnover of more than EUR23 million.
Bringing change to outdated recruitment processes
The addition of PTS further strengthens Assessio’s “zero talent waste” philosophy, which aims to allow organisations to recruit more inclusively through the use of data and modern work psychology. This is an extremely important factor, according to Pär Cederholm, as the Assessio Group aims to change outdated recruitment processes in all of its current geographies.
Cederholm added: “We cannot just stand and watch when people are systematically excluded because of the wrong name, background, age or education. Latest research continues to demonstrate that classic recruitment methods such as CVs and personal letters are not the right tool for deciding who gets the job or who becomes a good manager. To stop discrimination in the labour market, we must start using independent tools and make decisions based on objective data instead of our gut feeling. We want to fundamentally reshape the European recruitment market.”
Assessio is the Nordic region’s leading e-assessment company with a platform solution that helps HR to work inclusively and time-efficiently with recruitment and development of leaders and teams. Through tests and tools, they provide organisations with data-driven insights about both current and potential employees. Assessio was founded in the 1950s and today their work psychological tests are used all over the world and in over 30 different languages.
People Test Systems
People Test Systems A / S’s history dates back to 1996 but has been a separate tech company since 2007. PTS specialises in software for selection and development, such as tests in personality and logic as well as tools for team and leadership development. PTS operates in data-driven HR and today their tests are available in 23 languages. They have customers in 10 countries and have 16 employees in the office in Copenhagen.
Main Capital Partners
Main Capital Partners is a leading software investor in the Benelux, DACH and the Nordics. Main has almost 20 years of experience in strengthening software companies and works closely together with management teams of its portfolio companies as a strategic partner, in order to realise sustainable growth and build excellent software groups. Main counts over 45 employees and has offices in The Hague, Stockholm and Düsseldorf. As of October 2021, Main has over EUR2.2 billion of assets under management and has invested in more than 120 software companies to date. These companies have created jobs for approximately 4,000 employees.
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