BDO Advises XING on Acquisition of Tech Job Platform Honeypot

BDO AG Wirtschaftsprüfungsgesellschaft has advised XING SE on its acquisition of the tech-focused job platform Honeypot. An interdisciplinary team from BDO provided comprehensive financial and tax-related advice for the transaction.

Honeypot, founded in 2015 in Berlin, addresses the ongoing demand for tech experts by reversing the traditional job platform model. Employers apply for interviews with potential talents, rather than the other way around. The platform serves approximately 1,500 corporate customers and provides access to over 100,000 tech professionals, such as developers and data scientists. Honeypot employs around 50 staff in Berlin and Amsterdam.

XING, established in Hamburg in 2003, aims to strengthen its e-recruiting segment and its "New Work" offerings through strategic acquisitions, including Honeypot. The company, XING SE, intends to rebrand as New Work SE.

Imke Schultjan of XING SE highlighted the BDO team's understanding of the specific requirements for transactions within the startup environment, which contributed to the successful completion of XING's largest acquisition to date.