Bernard Hodes Group is selling Hodes iQ to a company called Technomedia. The new company will be called Technomedia-Hodes iQ in the U.S., and Technomedia elsewhere. Like many other human resources vendors, it hopes to sell customers on the idea of what it calls a “complete talent management suite.”
You may be saying, “Techno-who?”
Indeed, notes Josh Bersin, Technomedia isn’t well-known, at least in the U.S. It has its roots in Canada, particularly as a sophisticated system for companies like Bell Canada to manage their learning/training. Bersin says that Technomedia is “highly respected” north of the border, and has gained traction not just in Canada, but due to the Montreal-French connection, in France. He says it has “struggled” a bit in getting exposure in the U.S. without a significant sales organization.
Bersin says it’s an interesting marriage, in that rather than one large firm buying another to dominate a market, it’s one company strong in one area (learning) buying one strong in another (recruiting). Similar, he says, to the Taleo/Learn.com deal.
Joe Fortunato, the Hodes COO/CFO, and Andy Katz, the digital VP, tell me that the acquisition was a good fit because Technomedia is customer-service oriented, and the product would end up, they felt, in the good hands of a buyer that wanted to keep the product, service customers well, and make it part of a larger software offering. “It’s not going to morph into something else,” says Fortunato.
The two emphasize that Hodes is selling technology — not getting rid of key developers and creative talent needed to work on and create various Hodes social media tools, job distribution tools, and many other offerings. “We sold our ATS,” says Katz, “simply that.”