- EmployBridge and IAC ( NASDAQ: IAC ) has entered into a definitive agreement for EmployBridge to acquire IAC’s Bluecrew business unit, the first hourly W-2 workforce-as-a-service platform.
- The transaction will bring together EmployBridge’s industry-leading offering and scale with Bluecrew’s digital-first model and technology to create a leading national workforce management platform.
- Upon completion of the acquisition, Bluecrew CEO Stephen Avalone will be named Chief Platform Officer, reporting to EmployBridge CEO Billy Milam.
- Under the terms, IAC will receive consideration in the form of cash and combined company stock, becoming a minority shareholder in the combined company, which, upon completion of the transaction, will generate over $4B of pro forma revenue.
- The transaction is expected to be completed in the fourth quarter of 2022.
For further details see:
EmployBridge to acquire IAC's Bluecrew