Long-term industry players join to lead rapidly changing contingent workforce industry
Foster City, CA & Denver, CO – October 19, 2015 – In the face of rapid and tremendous change on the horizon for the independent workforce landscape, ICon Professional Services and Synergy Services today announced they have combined forces. The acquisition brings together two of the industry’s fastest growing companies with strong leadership teams and joins people, process and technology to offer broader and more comprehensive services to companies that engage contingent workers. ICon’s Teresa Creech will remain CEO, leading the new organization in serving a large and diverse client base and integrating two high-caliber management teams and staff.
ICon and Synergy will leverage their extensive solutions portfolio to better serve clients across a greater share of the overall marketplace. The acquisition was orchestrated by San Francisco-based private equity firm, Serent Capital, and one of its subsidiary companies, IC Compliance LLC. Their recognition of the rapidly growing market potential was a primary motivator to bring together the two companies and capitalize on the wide range of opportunities for the independent workforce market. The combined company can now bring more resources and greater investment to accelerate new technology, services and support.
“Putting these two incredible growth companies together enables us to better serve the evolving contingent workforce marketplace,” said ICon CEO Teresa Creech. “Our clients will benefit from the strongest leadership team in the industry, who are focused on anticipating and addressing the changes in engaging and maximizing independent talent. Synergy brings to ICon a depth of talent and technology expertise, and we look forward to delivering even greater solutions with them.”
Synergy CEO Tim Miller said, “This merger accelerates the path for both companies to lead the market. Together, we are the best equipped partner to help clients tap into independent talent with the greatest flexibility, efficiency, and risk mitigation. What’s most important is building these communities of independent talent in a way that hasn’t been done before. We have built a solution to best utilize these valuable resources, and together with ICon, we are going to change how talent is managed.”
Synergy Services is a leading provider of technology-enabled services for cost-effectively managing and engaging the flexible workforce on a global basis. Synergy’s software-as-a-service (SaaS) Talent Community™ platform includes integrated IC compliance capability, a streamlined onboarding process to rapidly deploy talent on-demand and talent community features that enable clients to curate and reutilize known consultants to engage the right talent for the right role at the right time. Synergy’s platform is supported by proven engagement services including agency-of-record, employer-of-record professional payrolling, vendor qualification and global services. For additional information, visit: www.synergyservicescorp.com.
About ICon Professional Services
ICon is a leading provider of contingent workforce management solutions, which include 1099 contractor compliance, payroll and benefits administration. Since 1997, ICon has applied experience, technology, and process execution to create solutions that deliver on the promise of an independent workforce by expertly navigating the complexity of government compliance. Its award-winning iConnect® technology platform remains at the forefront of the industry and provides powerful competitive advantages in terms of cost and performance. This technological advantage, along with our dedication to providing superior customer service, has earned ICon a long list of awards and satisfied customers. For additional information, visit www.gotoicon.com.