Kelly Acquires Specialty Technology Staffing and Workforce Solutions Firm, Softworld

Acquisition Accelerates Kelly’s Specialization Strategy, Unlocks Growth Opportunities in Attractive Markets

TROY, Mich., April 06, 2021 (GLOBE NEWSWIRE) -- Kelly (Nasdaq: KELYA) (Nasdaq: KELYB) today announced that it has acquired Softworld, a leading technology staffing and workforce solutions firm that serves clients across several end-markets, including financial services, life sciences, aerospace, defense, insurance, retail, and IT consulting. Softworld, headquartered in Waltham, Mass., will continue to operate under its own brand.

In 2020, Softworld generated revenue in excess of $100 million, reflecting double-digit growth despite COVID-related headwinds, at gross profit rates that reflect the demand for highly skilled, specialty technology talent.

“Through the acquisition of Softworld, Kelly adds to its portfolio a business with a consistent track record of growth whose deep expertise in technology complements the company’s focus on fast-growing, high-margin specialties,” said Peter Quigley, president and chief executive officer of Kelly. “Softworld's high-performance culture, underpinned by a talent-first mindset and an unwavering commitment to client satisfaction, make it a natural fit within Kelly.”

In 2021, the market for temporary information technology (IT) staffing in the U.S. is projected to reach $31.7 billion, making it the largest professional staffing segment¹. Within this segment, Softworld focuses on highly specialized occupations that are projected to grow at a rapid pace, driven by demand from organizations undertaking complex technology initiatives. This focus has translated to consistent top-line growth, earning Softworld a place on Staffing Industry Analysts’ list of the fastest growing staffing firms in the United States for each of the past five years.

“The disruptive forces of a remote workforce and emerging technologies – artificial intelligence, machine learning, predictive analytics, and others – are driving increased investment in digital transformations. As a result, demand for talent with the specialized skill sets required to design and implement these initiatives has never been greater,” said Hugo Malan, president, Kelly Science, Engineering and Technology. “The addition of Softworld to Kelly Science, Engineering and Technology’s portfolio significantly expands the scale, specialty capabilities, and solution set of our technology business, positioning Kelly to capitalize on this opportunity and fulfill clients’ end-to-end technology requirements.”