Recruitmax Announces Acquisition of KnowledgePoint

Recruitmax, the global provider of workforce management technology solutions, today announced that it has acquired KnowledgePoint, a part of CCH INCORPORATED in the Wolters Kluwer Legal unit. Terms of the agreement were not disclosed.

Founded in 1987, KnowledgePoint is a leading provider of enterprise performance management solutions, job description content, personnel policies and employment law products to over 500,000 users. The Companyís products include applications for defining jobs, setting goals, tracking performance and developing workers throughout the entire employee lifecycle.

Derek Mercer, Recruitmaxís Founder and CEO, said, ìFeedback from our enterprise customers and prominent industry analysts indicate that enterprise performance management is one of the fastest growing areas of workforce management technology solutions. Consistent with our vision and growth strategy, the acquisition of KnowledgePoint not only strengthens our ability to serve more customers but moves us one step closer to our goal of providing a complete, best-of-breed suite of workforce management applications ñ helping our customers differentiate themselves through their people.î

ìEnterprise performance management solutions are an important enabler to help ensure new and existing employees have the right competencies to do their work and spend their energies on the right activities,î said James Holincheck, Research Director ñ HCM Applications, Gartner. ìWeíre seeing some consolidation between vendors occur, driven not only by the demand for performance management but also by a recognition that a broader talent management suite market is starting to emerge.î

With the acquisition of KnowledgePointís assets, including its PerformanceImpact Enterpriseô performance management software, Recruitmax will be able to offer an even broader range of workforce management solutions. In addition to new product offerings, the Company will gain access to KnowledgePoint content that will be integrated into existing Recruitmax applications,providing even more value and competitive advantage to enterprise customers. Recruitmax will leverage KnowledgePointís intellectual property and performance management expertise to enhance and deliver a more comprehensive suite of workforce management solutions at the enterprise level.

Ian Alexander, President of KnowledgePoint, said, ìWe are very excited to join forces with Recruitmax. We share a common goal of offering a complete suite of workforce management products to our customers. This combination brings both firms one step closer to that goal.
Together, Recruitmax and KnowledgePoint serve over 300 large, enterprise customers making us a clear leader in workforce management solutions.î

The acquisition comes on the heels of a record second quarter by Recruitmax. Jim Philip, President of Recruitmax, added, ìWe closed our second quarter with the signing of 14 new enterprise clients, including some significant household names. Our bookings for this quarter grew by more than 150% over Q2 in 2003. We are also pleased with the outstanding response we are receiving to our products in Europe, having just opened our EMEA headquarters and International Data Center earlier this year. The acquisition of KnowledgePoint will allow us to further capitalize on the momentum we have created in the market.î