LONDON, 02 May, 2023 – SHL today announces it is acquiring its third-party distributor, SHL Japan, in a public-to-private ‘P2P’ transaction. SHL Japan has been SHL Group's local partner for the Japanese market since 1987.
The deal gives the group an unparalleled position in Asia, with leadership in each of the top three markets of Japan, India, and China, and also expands SHL’s global reach, making it the only player to have established scale across each of the US, EMEA, and APAC regions.
The transaction is structured as a joint venture with Mynavi, a leading provider of Graduate recruiting services in Japan, and long-time user of SHL Japan products.
The acquisition is the latest step in SHL’s strategic evolution from a supplier of assessments for the workplace, to a talent partner providing insight from its data intelligence platform to inform decision-making across the employee lifecycle.
M&A has played a key role in this transformation since 2018, including acquiring Aspiring Minds in India, and partnering with IBM for Kenexa Talent Assessments. The group also recently divested of PDRI to Pearson, to focus on its core B2B business.
“SHL Japan is a market-leading business with fantastic people that we’ve worked alongside for more than 30 years. We are really pleased to join with them to bring more of our powerful SaaS solutions to this important and growing market” said Andy Bradshaw, Chief Executive of SHL, adding that “Mynavi is a key sales channel for SHL Japan, and have unparalleled market knowledge. They are a perfect partner for us to grow SHL Japan together”.
Manabu Nara, Managing Director of SHL Japan, said, “For three decades we’ve shared a philosophy, culture, and commitment with SHL to use assessment to drive great outcomes for customers. We’re seeing an increasing demand for a broader set of tools and technologies that help leaders hire, develop and promote the right people. By joining SHL Group, we will be able to drive even more value for our customers”.
Tatsuya Nishi, Director and Managing Executive Officer of Mynavi Corporation, said “Mynavi is delighted to continue its long-standing relationships with both SHL Japan and SHL Group, and see huge opportunity for SHL Group’s newer suite of products in the Japanese market”.
The deal has finished a public tender offer process and will formally complete this summer, giving the joint venture 100% ownership of the business.
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