Xing purchases Austrian startup Prescreen

© Prescreen

The German business network Xing has acquired the Vienna-based startup Prescreen. The basic purchase price is EUR 17 million. However, the final cost of acquisition could increase by EUR 5-10 million if specified targets are achieved by the year 2020.

The startup Prescreen offers cloud-based software for human resources managers. Xing would like to link the software with its own recruiting solutions in order to make its own product attractive to human resources managers. “Thanks to the acquisition, Xing is able to further expand its leading position in e-recruiting”, says Xing CEO Thomas Vollmoeller.

Prescreen is the second Austrian startup to be acquired by Xing in addition to kununu. The company employs a staff of 27 people at present, and according to the information it publishes has 350 business customers, including larger firms such as Unicredit Bank Austria. Xing considers the company to be the fastest growing provider of ATS systems in Europe. Each month it attracts a double-digit number of new customers.

Source: Xing