IQN merges with rival Beeline
IQNavigator said Tuesday it has acquired a Florida competitor in a deal that would merge operations and build what it touted as the largest independent system to manage non-employee workers.
Financial terms were not shared.
Centennial-based IQN said that its parent GTCR purchased the assets of Beeline from Adecco Group, a firm based in Switzerland. Beeline’s U.S. operations are in Jacksonville, Fla.
Both are involved in management software that helps corporations manage non-employees, such as independent contractors, freelancers and consultants. IQN, which estimated that this extended workforce can be 25 to 35 percent of the average company, recently partnered with The Data Incubator so clients can get access to an exclusive talent pool of Ph.D. data scientists.
“Yes, the companies are direct competitors, which is a big part of the significance of this announcement,” said Brian Hoffmeyer, IQN’s vice president. “By merging, they form the largest independent (Vendor Management System) provider in the world. VMS software is critical software that companies use to manage all the non-employee workers and services they utilize as an extension of their employee workforce.”
IQN, which has the majority of its 205 employees in the Denver area, said the merger will help it improve customer service and focus on research and development. Beeline employs 415 people.
“No office consolidation is being planned. Instead, the combined company will have dual headquarters with major operations in both locations,” Hoffmeyer said.
Doug Leeby, Beeline’s president, will become the new leader of the company, which will also get a new name “in the coming months,” according to IQN. Joe Juliano, IQN’s president and CEO, will transition to a board position. IQN also provided a frequently asked questions page to let customers know that there will be no disruption of service.