CEB to acquire Canadian company
Arlington-based CEB Inc. said Friday it plans to acquire Wanted Technologies, a Canadian company that provides human resource specialists with hiring trend data.
Under the agreement, shareholders of Wanted Technologies will receive cash consideration of C$1.79 ( in Canadian dollars) per share. That represents a premium of approximately 53 percent to the closing price of C$1.17 per share on the TSX Venture Exchange on Sept. 9, and a premium of approximately 61 percent over the 20-day volume weighted average price of C$1.11 per share.
“With the addition of Wanted Analytics, we will have an unmatched ability to provide clients actionable guidance based on our understanding of trends in labor skills, demand, availability, and cost within and across geographies — exactly the kinds of insights HR and other talent-focused executives crave to inform workforce planning, but can't access in a meaningful way today,” Jesse Levin, head of Corporate Strategy & Development, CEB, said in a statement.
The definitive agreement between the companies provides for the acquisition of the shares of Wanted Technologies by way of plan of arrangement under the Canada Business Corporations Act. It is subject to court approval and TSX Venture Exchange approval, as well as the approval of 66⅔ percent of the votes cast by Wanted Technologies' shareholders and optionholders present in person or by proxy at a special meeting of shareholders expected to be held on or about Oct. 29.
CEB provides leaders at more than 10,000 companies with information to effectively manage talent, customers, and operations.