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💰 December 2025: European HRTech Investment Update - M&A 🚀

Here comes the final update for M&A activity in 2025. 2025 has been an extremely busy year in HR Tech/ WorkTech consolidation and it already looks like this development will continue in 2026.

Key drivers of consolidation in 2025 where:

  • Portfolio extensions of larger (suite) vendors for more up- & cross-selling - often also driven by investors.

  • Market and customer access into untapped markets that are especially hard to win in business-critical product areas with low churn or hard to build internally in locally regulated markets

  • Product innovation & acquihire by adding (true) AI-first products and teams - often facilitated by an overall economic environment that makes it challenging for startups to flourish independently.

Areas in HRTech that have seen higher amounts of consolidations were especially talent acquisition, employee benefits and learning technologies next to a continued strong investor interest in workforce management, payroll and other business critical functions.

Here is the summary for December 2025:

𝐇𝐑𝐓𝐞𝐜𝐡 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬:

📝 Jobiqo (AT) acquired jobs.de (DE) from the Kariera Group strengthening its presence in the German job market. In this context, JOBS.DE will be further enhanced as a key component of Jobiqo’s national job board network. The platform will continue to operate independently, strategically linking national reach with regional and specialized job markets to deliver greater impact and relevance: https://www.jobiqo.com/blog/jobiqo-acquires-jobs-de/

📝 Mintra (NO) acquired SQLearn (GR), a leading Greek provider of online maritime training solutions. This strategic acquisition marks the next phase in Mintra’s commitment to support the maritime industry’s digital transformation - with a special focus on Greece and beyond: https://mintra.com/insights-and-news/10-12-25/mintra-acquires-sqlearn-to-strengthen-presence-in-the-greek-maritime-market?srsltid=AfmBOoolfC10BFmUGdompNniROLrOMLzyKaGaCHTMX8xNQ2AxzS-W7QT

📝 Skillwell, the immersive simulations company formerly known as ETU (IE) merges with Realizeit (US), a global leader in AI-based adaptive learning. The combined company, continuing under the Skillwell brand, will help large corporations and higher education institutions measure, develop, and verify skills with elevated precision: https://www.skillwell.com/resources/skillwell-merges-with-realizeit-to-supercharge-personalized-skill-development 

📝 Hightekers (FR), the immersive simulations company formerly known as ETU (IE) merges with Serviap Global (US), a leading LATAM-based EOR and contractor management services provider. Serviap Global now becomes part of a larger international network, expanding our access to markets across Europe, Asia, the Middle East, North America, Africa, and Oceania. The Hightekers Group operates directly in 40 countries, with an additional 100+ covered through its certified partner network: https://www.serviapgroup.com/blog/serviap-global-joins-hightekers-group/

📝 CREE8 (US) acquired Producer (CH), a Swiss-based production management platform trusted by in-house media departments around the world. The acquisition is another major step in CREE8’s plan to build a complete creative ecosystem that connects every stage of content creation, from planning and production to post and delivery for freelancers: https://cree8.io/blog/cree8-acquires-producer/

Some deals were also communicated in the HR services, consulting & outsourcing space (less HR Tech) that are notable as they are oftentimes partners in the ecosystem and also moving closer together by advanced tech:

📝 HR Path (FR) acquired Blueprint HR Software Solutions Pvt Ltd (US/ IN), a subsidiary of Blueprint Technologies, an Indian-based company specializing in SAP SuccessFactors, SAP Concur and UKG solutions. Blueprint Technologies will continue to operate independently with a dedicated focus on ERP services, while its subsidiary, Blueprint HR Software - its HR technology division - joins HR Path as part of this strategic alignment: https://hr-path.com/en/our-news/hr-path-expands-apac-footprint-with-strategic-acquisition-of-blueprint-hr-software/2025/12/04/

📝 Synergie (FR) acquired House of Flexwork (CH), a leading Swiss staffing agency operating under the brands Induserv, Hardworker and Payroll House. With a network of 7 branches, House of Flexwork provides temporary staffing, Permanent recruitment and payroll services to a diversified clients base. House of Flexwork will take over the Swiss operations of SYNERGIE: https://finance.yahoo.com/news/synergie-strengthens-swiss-based-operations-173000303.html?guccounter=1

📝 Xeinadin (UK) acquired O'Rourke & Co. (IE), a cloud accounting practice. This is the seventh acquisition Xeinadin has made in Ireland this year after deals for Warren & Partners, KBG Accountants, FCC Accountants, FMCA Advisory Ltd, Folan & Co and O’Reilly & Co. Last year, Xeinadin announced it would invest over €40m in the Irish market over 18 months, a process that it expects to complete in the first quarter of 2026, with further acquisitions to be announced in the new year: https://businessplus.ie/ma/xeinadin-o-rourke-co/

🌎 Globally, there were fewer notable US HRTech vendor deals that did not involve European vendors:

Congrats to Martin Lenz, Phillip Miller, Manoj Kulkarni, Sebastien Wakim, Victor Anaya, Lisa M Watts, Xaver Walser, François Boulet, Cyril Courtin and to all of those involved in these deals and all the best for the next iteration of the journey!

Let me know if I overlooked something in the comments below! ⬇

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