Transaction strengthens Indeed’s mobile apply capabilities
SAN FRANCISCO, Calif., July 3, 2014 — Catapult Advisors LLC announced today the sale of its client, MoBolt, Inc. a leading provider of mobile recruiting software, to Indeed, a division of Recruit Holdings. MoBolt’s mobile software suite allows enterprise customers to accept job applications from any mobile device and deliver the data to any back-end ATS or CRM system.
The transaction was driven by a common belief by both MoBolt and Indeed management that the market has already crossed the mobile tipping point and relevancy with today’s job seeker requires a fully functional, enjoyable mobile experience.
“Application volume has always been the lifeblood of the recruiting department,” said Kshitij Jain, CEO of MoBolt. “Our SmartApply solution enables our customers to reach more candidates, while delivering unprecedented insight into their recruiting data. We’re excited to be joining forces with Indeed and look forward to improving the recruiting process for both employers and candidates.”
According to Chris Hyams, Indeed’s Senior Vice President, Product and International, “A majority of job seekers around the world find jobs on a mobile device, but only a fraction of employers allow them to apply right there and then. The best talent will not wait to apply later — they will simply move on to another opportunity. MoBolt enables any employer to leap frog this road block and access every candidate.”
Catapult Advisors served as MoBolt’s trusted advisor throughout the process. According to Jain, “Catapult’s steady advice and guidance were invaluable throughout the M&A process. There was tremendous complexity in this deal and the Catapult team excelled at finding creative solutions to complex problems. They fought hard on our behalf to get the best deal possible and I could not be more pleased with the outcome.”
About Catapult Advisors
Catapult Advisors is an investment bank and M&A advisory firm serving the software and internet sectors. Founded in 2001, the firm provides capital raising and M&A advisory services (both sell-side and buy-side) to privately-held companies, public companies, and several of the world’s leading private equity firms. Catapult has advised software and internet companies in the United States, Canada, Europe, Asia Pacific, and Israel. For more information, visit www.catapultadvisors.com.