Business
Caldwell Announces Spinoff of Software Business
TORONTO, ON / ACCESSWIRE / March 1, 2023 / Talent acquisition firm The Caldwell Partners Interna...
About this update from Caldwell Partners International Inc.
[{"type":"text","content":"Caldwell Announces Spinoff of Software BusinessTORONTO, ON / ACCESSWIRE / March 1, 2023 / Talent acquisition firm The Caldwell Partners International Inc. (\"Caldwell\" or the \"Company\") (TSX:CWL)(OTCQX:CWLPF) today announced the spin-off of its software business, IQRecruit from its IQTalent business segment. The action strengthens IQTalent's operational focus on managed services within search and talent strategy and positions both IQRecruit and IQTalent to pursue their respective growth plans.IQRecruit is a talent search and candidate management platform engineered by Caldwell's IQTalent segment. The end-to-end platform combines the powers of AI, automation, and expert research techniques to deliver high quality candidates to companies. This innovative software provides recruiting and hiring teams with pools of relevant candidates quickly and efficiently, allowing recruiters more time to focus on the candidate experience.\"This spinoff represents a significant step forward for both IQRecruit and IQTalent,\" said David Windley, president of IQTalent. \"It will give IQRecruit far more flexibility to secure the kind of financing and investments that will lead to the continued development of their software solution and future growth, and it will also provide the IQTalent team with more focus to better serve the needs of our customers by delivering world-class on-demand talent solutions.\"IQTalent contributed its proprietary software and its dedicated product and development team into a newly formed entity, IQRecruit, Inc. IQTalent will own approximately 41.9% of the new entity and will remain a user and marquis client of the IQRecruit platform. An insider of Caldwell, Mr. David Windley, invested an aggregate of US$250,000 into IQRecruit, Inc. in exchange for 8.7% of the shares of IQRecruit, Inc.\"IQRecruit has been an immensely successful platform for us, and IQTalent will remain a dedicated client,\" said John Wallace, chief executive officer of Caldwell. \"The 2020 acquisition of IQTalent represented a transformational event for Caldwell, and the beginning of our evolution into a technology-focused recruitment model for the benefit of our clients. The spinoff of IQRecruit is the next step in this journey, and we're confident that IQRecruit will be well-positioned to drive innovation, growth, and client satisfaction, which will ...