Q: What was announced and what does it mean?
A: On December 15, 2021, CareerBeacon announced that it entered into an agreement to be acquired by Alongside. The CareerBeacon brand will be fully maintained, and the majority of CareerBeacon employees are a part of this transition. Alongside’s Co-founders, Yves Boudreau (CEO) and Benoit Bourque (CTO) will assume the leadership roles for CareerBeacon.
Q: Who is Alongside?
A: Alongside is a Moncton-based human resources technology (HR Tech) company working to help employers become more successful in their hiring efforts by providing them with detailed insights, sophisticated candidate communication tools, and easy-to-use job posting distribution.
Q: Why is this deal happening, and why now? What do both companies gain?
A: Alongside saw acquiring CareerBeacon as a great strategic fit for their company’s future. Alongside approached CareerBeacon with the intent to purchase because they knew that CareerBeacon’s brand recognition and reach, in addition to Alongside’s HR product and industry expertise, would create immense growth potential to evolve into Canada’s ultimate recruiting platform.
For Alongside, CareerBeacon's brand recognition, prominent reach, and impressive customer base of over 2,000 active employers were all key factors in their decision to acquire the business.
“We’re grateful for having had the opportunity to partner and work closely with CareerBeacon over the past few years. Today, I am beyond thrilled that we are in a position to acquire CareerBeacon, for which we have big plans such as enhancing its offering and breadth of tools available to assist employers in their recruiting efforts and to help job seekers find their next great career opportunity.”- Yves Boudreau, Alongside.
For CareerBeacon, this acquisition means that the company would be in the right hands with Alongside’s technical expertise and vision for improved performance and continued growth.
Q: Will CareerBeacon customers be impacted by this deal?
A: CareerBeacon customers will not be impacted by this deal. Since 2017, Alongside and CareerBeacon have been in a strategic partnership agreement where Alongside led CareerBeacon through a full-rebrand, website update, and platform revamp. Today, Alongside operates the CareerBeacon platform, including back-end administration, payment system management, technical support processes, and more. Therefore, no data migration will be required, and there will be no interruption to platform experience for both employers and job seekers. All customer contracts will also be honoured, and all job posting credits and pricing will remain exactly the same.
The future of CareerBeacon is also very exciting, with expansion plans for growth and product improvements to provide more value for employers and job seekers.
Q: What are Alongside’s expansion plans for CareerBeacon?
A: Our roadmap consists of growing CareerBeacon into more markets across Canada and releasing updates that will create more value for job seekers and employers. Updates that will increase employers’ chances of success with improved functionality and visibility for their job postings. For job seekers, we are fully committed to equipping them with additional tools and guidance in their search for life-changing career opportunities. We will provide additional insights on the future of CareerBeacon soon. Stay tuned!
Q: Will this deal create new job opportunities?
A: Yes, we will announce new hires in the coming days, and new roles will be posted throughout 2022.