Press Releases

Recruitsoft Complete iLogos Acquisition

Leading Internet Recruiting Research Firm to Expand Recruitsoft’s Consulting Capabilities

San Francisco, CA – (BUSINESS WIRE) – November 1, 1999 –

Recruitsoft, creator of the world’s most advanced Internet-based Hiring Management System (HMS), announced today that it has completed the acquisition of iLogos Corporation, the preeminent provider of Internet recruiting intelligence in North America. Louis Tetu, Chairman and CEO of Recruitsoft, made the announcement. Terms of the agreement were not disclosed.

Mr. Yves Lermusiaux, who founded iLogos Corporation and served as its President and Chief of Research, has assumed the position of Vice President, Strategy and Content at Recruitsoft. As head of iLogos, Mr. Lermusiaux worked with a number of leading companies including Andersen Consulting, General Electric, IBM, KPMG and PriceWaterhouseCoopers. He is quoted frequently in major publications such as the Financial Times, Fortune, Globe and Mail, and Time, as well as many human resources industry publications.

Recruitsoft represents the first significant change in corporate recruiting in more than 25 years. Its automated Internet-based system eliminates the need for resumes, replacing them with the company’s proprietary skill-based screening technology. The result is a more efficient recruiting process, allowing corporate human resources managers to identify the most qualified candidates faster, more efficiently and at significantly lower cost.

According to Mr. Tetu, "Recruitsoft is the only company providing corporate recruiters with a complete end-to-end solution that automates and manages virtually every stage of the recruiting process. Instead of just streamlining a single aspect of recruiting -- as the job boards do for candidate sourcing -- ours is a total solution that we support with the knowledgeable consulting needed in large corporate environments.

"iLogos will not only enhance our consulting capabilities, but even more so, the content of our solution. iLogos’ knowledge of the e-recruiting space is both wide and deep, and is unmatched by any other company. This acquisition will significantly leverage our strategy of constantly improving the most complete end-to-end recruiting solution," Mr. Tetu added.

Mr. Lermusiaux commented, "Our research has shown there is a deep need in the marketplace for products that improve both the speed and effectiveness of the applicant prescreening process, eliminating the need to sift through hundreds, even thousands, of resumes. Recruitsoft is the only company that is truly redefining the entire recruiting process, which iLogos has been recommending to its clients for some time. It’s a logical step for us to join forces with Recruitsoft and support their development of the best possible recruiting solutions in this extremely fast-moving market."

Recruitsoft’s enterprise-wide solution automates and manages virtually every aspect of recruiting, from job-posting, applicant search and pre-selection, to reaching "passive" job seekers and developing centralized candidate pools. The result is an increased probability of hiring the right candidate, and a shorter "time to contribution," the point at which a new employee actually begins contributing to a company.

Using a customer-defined set of skills to create a questionnaire, Recruitsoft allows a candidate to apply for a specific position online without forwarding a resume. The system automatically analyzes each applicant’s qualifications according to how well he/she meet the company’s precise skill requirements. Potential candidates are assured complete privacy and anonymity, as they are contacting the company directly and can specify to what personal e-mail address they wish replies to be sent.

Recruitsoft’s system is 100% Web-based and requires no additional software, server installation or maintenance. It can be configured easily to each company’s requirements, and billing is on a pay-per-use basis.

Recruitsoft is a company comprised of specialists in the fields of human resources management and Web-based business solutions. Originally based in Quebec City, Recruitsoft has completed several years of product development and beta testing in Canada. With customers including Bombardier, its US subsidiary Lear Jet, and the National Bank of Canada, Recruitsoft recently established its headquarters in San Francisco and is offering its Internet-based enterprise-wide recruiting solution to American corporations. The company is funded in part by Telesystem Software Ventures LP (Telsoft), Canada’s largest venture capital fund dedicated to the software industry. Telsoft is the venture capital arm of the Telesystem Group, a 1999 Red Herring Top 100 company.

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