Radancy Announces Acquisition of Firstbird - A Global Leader in SaaS Based Employee Referral Programs

NEW YORK,Jan. 25,2022 --Radancy,the global talent technology leader,is pleased to announce its plans to acquire Firstbird,a global leader in SaaS based employee referral programs. Based in Vienna,Austria,Firstbird offers a comprehensive software solution to digitize and streamline the employee referral process. The acquisition of Firstbird is expected to close in the first quarter of 2022,subject to the satisfaction of customary closing conditions,including certain regulatory approvals.

This strategic acquisition combines Firstbird's innovative referral technology with Radancy's unified talent acquisition platform. Together,they will provide global clients with enhanced touchpoints along the entire candidate journey,connecting people to careers and companies with qualified candidates to solve their most critical talent acquisition challenges.

"From the first meeting I knew Firstbird checked every box for us. The people,the technology and the opportunity to expand Radancy's reach within the DACH market made this a perfect match," said Michelle Abbey,President and CEO of Radancy. "I'm excited to integrate their technology into our global unified platform and continue to transform talent acquisition for our customers."

"At Firstbird,our mission has always been to be the global standard for employee referrals," said Arnim Wahls,CEO of Firstbird. "With Radancy,we can now provide our customers with highly experienced local teams and service excellence across the world. Together,our combined products provide us with a unique offering to enable enterprises to attract and hire the talent they need."

The company will operate as Firstbird,a Radancy Company,and be led by its current Chief Executive Officer Arnim Wahls.

Radancy is a portfolio company of Gemspring Capital.

About Radancy

Radancy is the global talent technology leader intelligently solving the most critical challenges for employers and delivering results that strengthen their organizations. Radancy's unified platform,augmented by rich data and deep industry expertise,is revolutionizing how employers attract and hire the talent they need. For more information,visit www.radancy.com.

About Firstbird

Firstbird is the global leader in SaaS based employee referral programs for enterprise companies. With Firstbird,employees become brand ambassadors and referrals become a company's most successful recruiting channel. With significant expertise implementing employee referral programs in enterprises around the world such as McDonalds,Arvato Bertelsmann and Deloitte,Firstbird offers the technology,the strategic advisory and the service in all areas that influence the long-term success of a referral program.For more information,visit www.firstbird.com.

About Gemspring Capital

Gemspring Capital,a Westport,Connecticut-based private equity firm with $1.5 billion of capital under management,provides flexible capital solutions to lower middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth and value creation. Target companies have up to $500 million in revenue and are in the aerospace & defense,business services,consumer services,financial and insurance services,healthcare services,industrial services,software and tech-enabled services,or specialty manufacturing sectors. For more information,visitwww.gemspring.com.