Silverback and its subsidiaries are uniquely positioned to dominate the industry. As the market continues to evolve, there will be unprecedented opportunities to create significant amounts of high-margin, recurring revenue streams that will result in margin expansion and higher profitability across the economy. This new asset class will have a global impact on balance sheets and income statements in the near term, and usher in new financial options leveraging the value of data and increasing overall corporate valuations. is the leader in the rapidly emerging industry of treating data as an asset. Shekerdemian will immediately serve as a strategic advisor to Silverback in his executive role on the Board of Directors of Silverback. As the world faces uncertain economic times, we believe this combination of our case-studied history of creating greater equity and fairness through our platform for some of the world's most notable companies, and Silverback's ability to access capital markets will present unique opportunities to consolidate the human capital market and build significant scale and innovation." Mr. What's more, being part of a publicly traded company, we will now have access to alternative capital formation strategies and M&A driven growth opportunities.
SILVERBACK DRIVERS
With this transaction, we see two significant drivers for near-term growth and long-term success, namely: Silverback's unique data valuation and monetization capabilities will lead to the delivery of new data-driven products for existing and future customers, and greater access to the US market and further global expansion of our core platform. Nicholas Shekerdemian, Headstart's Executive Chairman, noted, "Over the past six years we have been fanatically focused on bringing innovative technologies and data science capabilities to the human capital industry to ensure fairness and efficiency in global hiring practices.
SILVERBACK PROFESSIONAL
That combination of professional capabilities and services combined with unmatched technology is why companies like Accenture and many others rely on Headstart to ensure their global hiring practices result in the best candidates filling critical roles in the fairest and most equitable way possible." Just as importantly, the team at Headstart brings cutting-edge data scientists, programmers and customer success professionals that will enhance our broader team strength. Silverback's CEO Ron Bienvenu noted, "We have assembled a veteran team of tech and data industry experts at Silverback aimed at acquiring and integrating data-rich, EBITDA accretive businesses. After reviewing dozens of companies in the human capital industry, it was clear to us that Headstart had the most data-rich technology platform available. Adding Headstart to our existing portfolio of businesses will allow us to leverage our data valuation and monetization platform known as 'DICE' to create additional high-value, recurring revenue streams. Silverback CEO Ron Bienvenu will serve as the interim CEO of Headstart during this integration period, and Nicholas Shekerdemian, Headstart's Co-Founder and Executive Chairman will be joining Silverback's Board of Directors as Vice Chairman. Silverback will also pursue an aggressive organic growth strategy at Headstart, with significant opportunities to expand to organizations in the US market.
The acquisition is part of Silverback's strategy to build highly valuable, vertically specific data companies that can leverage Silverback's DICE data valuation engine's proprietary technology and data valuation capabilities. Spear Point Advisors, LLC ("Spear Point") served as Silverback's exclusive financial advisor for the transaction. Headstart.io will remain an independent wholly owned subsidiary of Silverback and will continue to be headquartered in London, UK. The acquisition will be immediately accretive and will accelerate its strategy for the assetization of data on a global basis. ( headstart.io) in an all-stock transaction. pending FINRA approval of name and ticker symbol change) announced the acquisition of UK based Headstart AI, Inc.
18, 2022 (GLOBE NEWSWIRE) - Silverback United, Inc.
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