UPDATE — FE International Advises Acquisition of Evalart by Noosa Labs
Company Served as the Exclusive Advisor on Purchase of Latin American HR Technology Company by SaaS Business Acquirer
NEW YORK, April 02, 2024 (GLOBE NEWSWIRE) — FE International, the leading mergers and acquisitions advisory firm for technology businesses, announces the strategic acquisition of Evalart, a leading Latin American provider of skill assessment software, by Noosa Labs, a company specializing in buying and nurturing SaaS businesses. FE International served as the exclusive sell-side M&A advisor on the transaction.
Founded in 2017, Evalart has become a foundational company in human resources (HR) technology, offering robust solutions for skills assessment catering to the evolving needs of businesses across various industries. The acquisition by Noosa Labs will enhance Evalart’s offerings with new user experience and interface designs, innovative tools leveraging generative AI and tailored solutions for mid-sized and larger customers. Additionally, this acquisition marks Noosa Labs’ entry into both the Latin American market and the HR tech sector.
“Evalart has been at the forefront of innovation, providing solutions to help companies identify and recruit the best talent for their needs,” said G. Cateriano, CEO and Founder of Evalart. “After seven years of building and growing this company, this acquisition not only aligns with the company’s commitment to excellence but will also propel its future growth in the market.”
“As with all our acquisitions, our goal is to enhance the product by offering an improved user experience and innovative tools to suit our customers who are using the platform,” said Pascal Levy-Garboua, CEO and Founder of Noosa Labs. “FE International’s expertise in M&A brought this deal to life, managing the entire sale seamlessly and ensuring we could focus on our mission of delivering greater value to our customers with this key addition to our portfolio.”
“Despite the post-COVID deal slowdown, the HR tech market is expected to reach a valuation of nearly a quarter trillion dollars by 2030,” said Randal Stephenson, the Head of Investment Banking at FE International. “The sector’s resilience and projected growth has made for attractive investment opportunities, and this acquisition was no exception. HR technology is essential for organizations to stay competitive in today’s fast-paced environment, and in facilitating this transaction, FE International was able to have a hand in supporting the progress of this advanced technology.”
About Evalart
With a strong footprint in Latin America, Evalart is known for its comprehensive suite of skills assessment tools, designed to streamline the hiring process and ensure the best fit between companies and potential employees.
About Noosa Labs
Noosa Labs specializes in buying and nurturing SaaS businesses. With a portfolio of 5 acquisitions to date, Noosa Labs intends to acquire 2-3 companies per year in the near future.
About FE International
Founded in 2010, FE is known for its extensive network of pre-qualified international investors. Its team includes experts in exit planning, valuation, accounting, legal and more. FE serves clients worldwide with headquarters in New York and regional offices in Miami, San Francisco, London, Mumbai, and Warsaw. It was named one of The Americas’ Fastest Growing Companies in 2023, 2022, 2021 and 2020 by The Financial Times and is also a five-time Inc. 5000 company. For more information, visit www.feinternational.com.
Media Contact
KCSA Strategic Communications
Michael Ganci / Michaela Fawcett
FEI@kcsa.com
