AU-Based People Management Platform Shares Get Boost From Takeover

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intelliHR is an Australian-based company founded in 2014. It is a strategic people management platform with built-in analytics and AI that gives company leaders good insight into their employees. The company received a generous offer that boasted their stock prices significantly.

intelliHR offers easy-to-use tools for automation, removing administrative duties usually completed by HR. Their official statement states, “intelliHR facilitates strategic decision making by helping HR and leaders to visualise better, understand and explore their people data.”

The company offers products that help HR professionals streamline manual processes. It also provides managers to focus on performance management with dashboards that give them a visual representation of the overall standing of each employee. intelliHR also provides companies with a centralised database that can be utilised to distribute information and payroll systems.

Recently, the Australian-based HR services provider received an offer from a Sydney-based workforce management software company Humanforce Holdings, in their efforts to acquire intelliHR. According to Reuters reporter Rishav Chatterjee, “suitor Humanforce Holdings raised its takeover offer by 50% to $56.1 million ($37.38 million) to outbid a rival. IntelliHR received an $0.165 per share offer from Humanforce, which is higher than its initial bid of $0.11 apiece and a rival cash offer of A$0.14 per share by British software firm The Access Group (TAG) made earlier this month.”

The offer allowed intelliHR’s shares to rise as much as 14 per cent, and Chatterjee added that currently, Humanforce controls a 19.9 per cent majority stake. Humanforce’s move counters TAG’s previous offer, which represents a 122 per cent premium last 30 January, according to Yvonne Ardley, a reporter for The Market Herald. Ardley added that Humanforce “has agreed to delete the intelliHR material adverse change condition from its original offer as well.”

There is no official decision published by intelliHR, but the company urges its shareholders not to take any action now. The company promised that it would be providing updates soon.

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