UK tech giant Advanced swoops for Clear Review
Posted on October 20, 2020 by Jonathan Symcox
UK tech giant Advanced has made its third acquisition of 2020 after swooping for performance management and employee engagement software company Clear Review.
Founded in 2016 by Sony’s former International HR Director Stuart Hearn, Clear Review’s SaaS platform includes a scientifically backed wellbeing monitor.
The software is used by managers and employees at 300 mid-market and large customers globally, including Virgin Money, RICOH, Café Nero, HarperCollins and Waltham Forest Council.
Advanced says the deal extends its human capital management capability, which now supports the entire employee lifecycle from recruitment to retirement.
The acquisition further supports the company’s ambition to become the number one provider of business software solutions in the UK while expanding its global reach.
“COVID-19 has forced over half the UK’s workforce to work from home – something that is likely to continue as our normal – and so the ability for managers to continuously develop and improve their people’s performance remotely is paramount to the success of every organisation,” said Advanced CEO Gordon Wilson.
“Vital too is that organisations can ensure they have engaged workforces and that their wellbeing is supported. Clear Review’s technology gives managers the tools to do all these things whilst being extremely complementary to our existing Human Capital Management solutions which is an area of priority for us.
“For both our existing and new customers this acquisition enhances their ability to empower managers to accelerate their talent management strategies.”
The acquisition comes six months after the acquisition of Tikit, a global legal, accounting and professional services software business, from BT, and just days after its acquisition of Mitrefinch, a global workforce management company.
It is the fourth transaction since the firm received an investment from funds advised by BC Partners and Vista Equity Partners to accelerate growth in August 2019.
Stuart Hearn, founder and CEO of Clear Review, said: “We’re extremely proud of the success of our Clear Review platform and its role in improving business performance and developing talent around the world.
“The acquisition provides a great opportunity to accelerate Clear Review’s growth as well as integrate with Advanced’s HR solutions, helping organisations retain their best talent and increase performance.”