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

Jens Bender
19. Juli
5 Min. Lesezeit

As usual, the months before the summer break tend to be busy months for M&A and June has proven this again. With some interesting deals already communicated in July for European HRTech, we look back at a higher number of M&A announcements in June. The employee benefits market consolidation continued with several announcements throughout Europe.

The deal pipeline I am personally aware of in the HRTech space continues to look strong and indicate both - private equity led deals but also strategic deals with portfolio extension approaches. Furthermore, the are also several startups looking for a larger partner to exit to and grow faster in that ecosystem.

Here is the summary for June 2025:

𝐇𝐑𝐓𝐞𝐜𝐡 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬:

📝 Epassi (FI) backed by Warburg Pincus LLC acquired Zest (UK), provider of a highly configurable SaaS platform that helps employers manage, communicate, and expand their employee benefits. This acquisition supports Epassi’s growth ambitions in Europe and in particular in the UK and expands its product offering. Epassi, similar to other players in the benefits market have been very active acquiring vendors and thus consolidating the very fragmented market: https://www.epassi.com/news/epassi-group-expands-presence-in-the-uk-with-the-acquisition-of-zest

📝 Epassi (FI) backed by Warburg Pincus LLC also acquired Vip District (ES), a rewards and employee engagement platform headquartered in Spain. Next to the above mentioned acquisition in UK, this transaction represents a strategic move that expands Epassi’s reach into Southern Europe, reinforcing its ambition to become the leading pan-European player in employee wellbeing and engagement: https://www.epassi.com/news/epassi-group-expands-into-southern-europe-with-the-acquisition-of-vip-district

📝 Zellis (UK) backed by Apax acquired Hastee - A Zellis Company (UK), a financial wellbeing platform that empowers employees to take control of their financial lives through earned wage access, financial education, savings and comprehensive money management tools. By integrating Hastee’s financial wellbeing offering with Zellis’ HR, workforce management, payroll and benefits platforms, Zellis now offers organisations and their employees a unified suite of services: https://www.zellis.com/resources/press-and-media/zellis-group-acquires-hastee-to-enhance-hr-and-payroll-offerings/

📝 TimeTac (AT) backed by Maguar Capital acquired EARLY (AT; by Timular), a specialist for project-based time tracking solutions. With this transaction, TimeTac strengthens its market position in the HR tech sector and specifically expands its product platform – with a focus on legally compliant time tracking and project time tracking for billable hours. Furthermore, TimeTac announced the opening of a Spanish presence in Barcelona expanding its regional footprint: https://www.linkedin.com/pulse/timetac-st%C3%A4rkt-marktposition-durch-%C3%BCbernahme-von-timeular-und-vn3uf/?trackingId=Vl8t8ue2St2uLROcDK83OQ%3D%3D

📝 zvoove (DE) backed by LEA Partners acquired tutum GmbH's (DE) digital personnel file product segment for temporary staffing agencies. These solutions for digital, audit-compliant document management, workflow, and document recognition in the temporary staffing industry will now be continued under the new name zvoove DMS+ as a premium product: https://www.prnewswire.com/news-releases/zvoove-acquires-digitalization-solutions-for-temporary-staffing-service-providers-from-tutum-302491060.html

📝 Tellent (NL) backed by PSG acquired FunnelBridge (DE), an HR tech solution that enables companies to recruit and engage with talent directly through WhatsApp. This acquisition includes the FunnelBridge software, customer relationships, and the onboarding of key team members and initially became public end of June but was officially communicated in the beginning of July: https://tellent.com/blog/funnelbridge-acquisition

📝 Visma (NO) backed by Hg and other investors acquired Talana (Chile), a fast-growing and comprehensive HR platform with operations in Chile and Peru. The acquisition highlights Visma’s commitment to providing businesses in Latin America with modern tools that drive growth and competitiveness: https://www.visma.com/news/visma-strengthens-its-hr-tech-offering-in-latin-america-with-the-acquisition-of-talana

📝 Pearson (UK) acquired eDynamic Learning (CA), a leading Career and Technical Education (CTE) curriculum solutions provider. This acquisition is aligned to Pearson’s strategy, enabling Pearson to scale its position in the fast-growing Early Careers space and broaden capabilities in career-readiness solutions: https://plc.pearson.com/en-GB/news-and-insights/news/pearson-acquire-career-and-technical-education-leader-edynamic-learning

📝 Shape Robotics (DK) acquired Sanako (FI), a Finnish education technology company specializing in digital language learning solutions. The Acquisition allows Shape Robotics to significantly broaden its product portfolio by integrating Sanako’s language learning solutions with Shape Robotics’ STEAM Lab offering: https://news.cision.com/shape-robotics/r/shape-robotics-acquires-sanako-oy-through-share-swap,c4158701

📝 Unseen (UK) backed by Pelican Capital acquired Meet & Engage (UK), a candidate experience and onboarding platform. Since receiving landmark investment from Pelican Capital in 2024, Unseen has completed four strategic acquisitions. Leicester-based Meet & Engage is the tenth organisation overall to join the group, reinforcing Unseen’s growth trajectory and position as a talent solutions platform: https://www.thebusinessdesk.com/northwest/news/2154149-unseen-group-acquisition-drive-continues-with-latest-addition-to-expanding-structure

📝 StudiesIn Technologies (ES) acquired a top-ranked student traffic network (mastersdegree.net) that drives study abroad interest across Europe. This strategic move is supposed to drive StudiesIn’s expansion efforts, enabling the company to reach over one million international students and strengthen its position as the number one study abroad portal for Europe: https://studiesin.com/blog/studiesin-acquires-key-student-traffic-network-in-its-mission-to-become-1-study-abroad-portal-for-europe

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 ClearCourse Consulting (US), a U.S.-based firm specializing in HCM consulting for platforms including Dayforce, ADP, UKG, and Workday. Building on the acquisitions of Exaserv in 2019 and Terra Information Group (TIG) in 2023, this move further solidifies HR Path’s US-nationwide presence and delivery capacity: https://hr-path.com/en/our-news/hr-path-expands-u-s-footprint-with-acquisition-of-clearcourse-consulting/2025/06/24/

📝 Org Group (IE) acquired Enterprise Digital Resources (BE), a workforce solutions firm specializing in serving enterprises that have technology-intensive operations. This follows the acquisition of Venturi communicated the month prior. The transaction strengthens and expands the Group’s access to a network of high-skilled consultants at a time when businesses are accelerating digital transformation and facing heightened talent demands: https://www.consultancy.eu/news/12131/org-group-acquires-belgian-erp-talent-provider-enterprise-digital-resources

📝 Org Group (IE) acquired Enterprise Digital Resources (BE), a workforce solutions firm specializing in serving enterprises that have technology-intensive operations. The transaction strengthens and expands the Group’s access to a network of high-skilled consultants at a time when businesses are accelerating digital transformation and facing heightened talent demands: https://www.consultancy.eu/news/12131/org-group-acquires-belgian-erp-talent-provider-enterprise-digital-resources

📝 Affinity Workforce Solutions (UK) acquired The Protocol Group (UK), adding further education expertise and digital safeguarding services to its expanding national portfolio. The move strengthens Affinity’s presence in the East Midlands and adds an additional compliance service offering for existing clients and enhances its managed service offer to the FE sector: https://affinityworkforce.com/affinity-workforce-brings-the-protocol-group-into-its-growing-education-recruitment-network/

📝 Morson Group (UK) acquired 3B Training (UK), a Wigan-based specialist provider of health and safety training in the construction sector. The acquisition backs Morson’s strategic expansion of their training capability and reinforces its position as provider of applied, supplied, deployed and developed talent worldwide: https://www.morson.com/blog/morson-strengthens-training-capability-acquisition-3b-training

🌎 Globally the most notable and also discussed HRTech deals in June include:

📝 JobGet (US) acquired CareerBuilder & Monster (US) after the once well-known job boards filed for bankruptcy. JobGet acquired the most recognizable part of CareerBuilder and Monster — their job boards. JobGet itself is a platform for gig and hourly workers searching for jobs: https://edition.cnn.com/2025/06/25/business/monster-careerbuilder-bankruptcy

📝 UKG (US) acquired Shiftboard, A UKG Company (US), an employee scheduling software platform for mission critical operations in the oil and gas, energy, and manufacturing industries: https://www.businesswire.com/news/home/20250602789092/en/UKG-Acquires-Shiftboard-a-Leading-Energy-and-Manufacturing-Employee-Scheduling-Solutions-Provider

Congrats 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! ⬇