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ExakTime Announces majority investment by Providence Strategic GrowthLOS ANGELES, Aug. 15, 2018 /PRNewswire/ -- ExakTime, a two-decade leader in digital time and attendance solutions for construction and field services, today announced it has reached an agreement for a majority investment by Providence Strategic Growth (PSG). PSG is the growth equity affiliate of Providence Equity Partners, a leading global equity firm with $50 billion in assets under management. Terms of the transaction were not disclosed. Since its founding in 1999, ExakTime has been innovating game-changing workforce management solutions for construction and field services companies of all sizes. Now serving over 7,000 customers and 250,000 users daily, ExakTime equips businesses with a GPS-enabled app for field-based time and activity tracking and compliance verification, plus cloud-based software and direct syncing with accounting and payroll programs. As a part of the overall platform strategy, PSG has created Arcoro Inc. Arcoro is the proven human capital management (HCM) software and services provider for high consequence industries and features the cornerstone companies of ExakTime and BirdDogHR, an integrated talent management solution for small and mid-size companies in construction and beyond. "ExakTime has consistently maintained industry leadership in time and attendance management for over twenty years," says PSG Managing Director Gopi Vaddi. "There is no better testament to their deep commitment to customer-centric product innovation, and to the human capital software marketplace. ExakTime is a perfect addition to Arcoro's cloud-based HCM suite. We are excited to partner with the ExakTime team." The natural synergy between the Software as a Service (SaaS) offerings of ExakTime and BirdDogHR provides the highest-level customer experience to businesses seeking to streamline employee management operations, from the first touchpoint with new candidates to compliance sign-off and payroll processing. With over 8,000 customers in high consequence industries including construction, manufacturing, energy, home health care and manufacturing, ExakTime and BirdDogHR offer established solutions for maximizing workforce performance and efficiencies, building ROI and limiting the risk associated with human capital management. Both companies will maintain their company names and brands but will now be known as part of the Arcoro family of human capital management solutions. "ExakTime is very proud to be joining the group of businesses under the Arcoro Inc. umbrella," said John O'Hara, president and CEO of ExakTime. "This will strengthen ExakTime's stance in the market and bility to expand our offerings while also providing our customers with the best range of tools for all their human capital management needs. We are excited for the opportunity to be one of the cornerstone solutions in Arcoro's proven suite of products." McGill Restoration, a building restoration business based in Omaha, Nebraska, utilizes both ExakTime's and BirdDogHR's services for their human capital management. "We're happy that ExakTime and BirdDogHR are now part of the Arcoro group, because they work really well together," says Blake Berke, CFO at McGill Restoration. "We rely heavily on both solutions to streamline our recruiting, hiring, employee tracking and payroll processes." Manager of Human Resources Kim Roberts adds, "When I hire someone through BDHR I immediately onboard them into ExakTime. They go hand in hand. It's a smooth process. Having the web-based reporting and custom reports from both systems at my fingertips is also invaluable." About ExakTime About BirdDogHR About Arcoro Inc. About Providence Strategic Growth
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