MINNEAPOLIS and DENVER (April 19, 2004) – Ceridian Corporation (NYSE: CEN) - a leader in managed human resource solutions that maximize the value of people, today announced the acquisition of Recruiting Solutions International, Inc. (RSI), a leading provider of Web-based recruiting and workforce management software.
“We have been partnering with RSI to deliver recruiting solutions for several years and each year have seen steady growth in the number of customers,” said Robert “Bo” H. Ewald, president of Ceridian HR Solutions. “We view the employment space as an important component in meeting our overall objective of becoming the single source for managed human resource solutions and giving companies the freedom to change their world of work.”
“We knew that our ability to grow the business faster would best be achieved by making a bold move,” said Mark Henninger, president and founder at RSI. “Like RSI, Ceridian puts a priority on high quality customer service. As part of the Ceridian team, we will now enjoy the support of a larger organization, and will have the opportunity to expand our core business.”
The terms of the agreement were not disclosed. Veronis Suhler Stevenson represented Recruiting Solutions International, Inc.
About Recruiting Solutions International, Inc.
RSI is a profitable, leading provider of modular, Web-native human capital management solutions. RSI’s software and services enable corporate human resources departments and professional staffing organizations to hire and manage qualified permanent and contingent employees in a more effective, timely, and cost-efficient manner by automating labor-intensive, paper-based recruiting and workforce management activities. For more information, visit their Website at www.RecruitingSolutions.net or call .
Ceridian is changing the world of work by enabling companies to be free to succeed in their core business through its suite of innovative managed human resource solutions that include payroll and compensation, staffing, compliance, HR administration and employee effectiveness. Ceridian Corporation (NYSE: CEN) is an information services company serving businesses and employees in the United States, Canada and Europe. For more information about Ceridian’s comprehensive array of human resource solutions, visit www.myceridian.com or call
About Veronis Suhler Stevenson
Veronis Suhler Stevenson is a leading independent private equity firm dedicated to the media, communications and information industries. Veronis Suhler Stevenson has completed over 630 transactions since its inception in 1981. The firm has acted as a financial advisor across the full spectrum of media, communication and information segments and provides the following services: private equity investment and mergers & acquisitions advisory services. VS&A Communications Partners III, LP is the third private equity fund managed by Veronis Suhler Stevenson. Capitalized at over $1 billion, it is one of the largest private equity funds dedicated exclusively to investments in the media, communications and information industries. The VSS Private Equity buyout funds have invested in 33 platform companies and 153 add-on acquisitions, across multiple media segments; the realized and unrealized enterprise value of these investments total approximately $7 billion.
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