BDO advised XING on acquisition of tech recruitment platform Honeypot
BDO AG Wirtschaftsprüfungsgesellschaft advised XING SE on its acquisition of the tech-focused job platform Honeypot. The transaction strengthens XING's position in the recruitment market.
BDO AG Wirtschaftsprüfungsgesellschaft has provided advisory services to XING SE in connection with its acquisition of Honeypot, a German tech recruitment platform. BDO's multidisciplinary team offered financial and tax advice throughout the transaction, which marks a significant step in XING's growth strategy.
Honeypot, founded in 2015, operates as a "reverse marketplace" where companies actively recruit talent. The platform connects approximately 1,500 corporate clients with around 100,000 tech professionals globally. The company has offices in Berlin and Amsterdam and employs approximately 50 people.
The acquisition is part of XING's strategy to expand its offerings in the online recruitment and "New Work" tools sector. XING, a German social networking company founded in 2003 in Hamburg, plans to rebrand as New Work SE to emphasize the evolving world of work.
"BDO's team understood our needs excellently and consistently kept in mind the specific requirements involved in acquiring an innovative startup," said Imke Schultjan of XING SE. "BDO thus made a significant contribution to the success of this acquisition, our largest to date, in both corporate finance and tax matters."