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.