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Recruit Holdings announces acquisition of recruiting platform Syft

May 30, 2019
Recruit Holdings Co.,Ltd.

Platform to simplify shift hiring, as demand for part-time and flexible work grows

TOKYO, JAPAN (May 30, 2019) - Recruit Holdings Co., Ltd. ("Recruit Holdings" or the "Company") announced today that its HR Technology SBU (Strategic Business Unit) has signed an agreement to acquire Syft Online Limited ("Syft") through Indeed Ireland Operations Limited. Syft is a leading recruiting platform for the hospitality, events and industrial industries in the United Kingdom.

Founded in 2015, Syft's proprietary technology provides a simple, effective recruitment solution and shift management tool for part-time and flexible work, connecting and matching qualified and vetted jobseekers with available shifts through its desktop and mobile app.

Chris Hyams, CEO at Indeed, commented: "At Indeed our mission is to help people get jobs. Syft's simple and transparent approach to shift work hiring is an innovative solution to the growing demand for part-time and flexible work. We look forward to supporting the Syft team as they continue to improve the hiring experience."

Jack Beaman, Co-founder and CEO at Syft, commented: "Syft's vision to build the future of work aligns with Indeed's core mission. At Syft, we set out to create a win-win platform to better serve jobseekers and employers, underpinned by values of fairness and transparency. Demand for part-time work continues to surge as job seekers look for greater control and choice. We are excited to grow with Indeed."

Syft's employees, including its founders, will continue to operate from their headquarters in London and regional office locations. Syft will operate within Recruit Holdings' HR Technology segment.

1. Overview of Syft

(1) Name Syft Online Limited
(2) Location London, United Kingdom
(3) Title and name of the head Jack Beaman CEO and co-founder
Novo Abakare COO and co-founder
(4) Description of business Recruiting platform and shift management tool for part time and flexible work
(5) Foundation 2015

2. Future forecasts

The transaction will not have a significant impact to Recruit Holdings' consolidated financial results for the fiscal year ending March 31, 2020.