SHL, the UK-based company, which provides services in cloud-based talent measurement and management solutions, has acquired Aspiring Minds, a talent solution company based out of Gurugram. However, the financials of the deal have not been disclosed.
Aspiring Minds claims to have over 3000 customers worldwide, and provides AI powered assessment tools and interviewing solutions. The company which has operations in US, China, India, Middle East, Philippines and Sub-Saharan Africa, was founded in 2008 by Varun Aggarwal and Himanshu Aggarwal.
These capabilities are expected to complement SHL’s existing line of products and services.
SHL was founded in 1977 by two psychologists Peter Saville and Roger Holdsworth. In 2012, UK- based SHL was bought over by The Corporate Executive Board Company (CEB) for $660 million in cash. The business was renamed as CEB Talent Assessment, though the brand SHL was retained.
In 2017, Gartner had acquired CEB, and SHL came under the Gartner stable. However, in early 2018, Gartner sold CEB Talent Assessment (SHL) to Exponent Private Equity, a UK-based private equity firm, for $400 million.
“This acquisition infuses Aspiring Minds’ advanced AI technology throughout SHL’s portfolio at a platform level, and will leverage our rigorous science to enable the technical, emerging and leadership talent required for our 10,000-plus customers to succeed in the digital era,” says Andy Bradshaw, CEO of SHL.
Varun Aggarwal, co-founder and CTO of Aspiring Minds, adds, “Our focus is on real-world applications of AI and we see an opportunity for unprecedented innovation in joining SHL.”