Freelance.com is poised to take over STA Group. The France-based marketplace said it had signed a “synallagmatic” (reciprocally binding) promise with the group, which provides wage portage services for freelancers and connects consultants with companies.
The terms of the deal, which is to be carried out in cash, were not made public.
Freelance.com said the merger would let it “strengthen its range of services for freelancers and companies by actively participating in the consolidation of the wage portage market in France.”
The acquisition is expected to go through at the beginning of January 2024.
It follows the marketplace’s integration of OpenWork, a supplier of umbrella company services to freelancers, in September.
The new entity is expected to post a combined turnover of more than €1 billion ($1.1 million U.S.) in 2023. STA Group had a turnover of €86 million in 2022, and Freelance.com €800 million.
“STA, like OpenWork, operates in a segment that perfectly complements Freelance.com’s existing offer, particularly in the field of IT skills,” said Freelance.com, announcing the deal.
“The commercial dynamics generated by these two companies have enabled them to achieve a level of business growth well above the average of the wage portage market since 2019, promising very good future synergies with Freelance.com’s existing offers. The tools and processes implemented by STA allow them to produce their services at extremely competitive costs and ensure profitability in line with the standards of Freelance.com.”
STA Group has an ergonomic platform and offers a full-digital, SaaS-based service, said Laurent Perret, deputy general manager of Freelance.com in charge of wage portage.
“Beyond the synergies between our know-how to establish the position of Freelance.com Group as the leader in the wage portage market in France and Europe, the successive acquisitions of OpenWork and STA will enrich the pool of talent of Freelance.com with nearly 15,000 active consultants. Freelance.com thus consolidates its positioning on skills highly demanded by its major account customers: strategy consultants, business experts, transition managers, and IT freelancers,” he added.
Based in Île-de-France, STA Group was founded in 2010.
“After 12 years of continuous growth, I want to attach STA Group to a partner capable of ensuring its longevity and development,” said founder and president David Forner.
“I was won over by the long-term industrial project of Freelance.com, which aims to facilitate the search for missions by freelancers and the search for talent by companies, especially in the field of IT. The wide range of services offered by Freelance.com perfectly complements the specifics of our model and the quality of the support we provide to our clients.”
With a staff of 350, Freelance.com is active in Germany, Belgium, Morocco and Switzerland.
In March, it said it was continuing to review external growth opportunities in France and Europe and was confident that it would achieve its target of €1 billion in revenue by 2025.
Offering a complete range of services, including sourcing expertise, external resource management, project management, wage portage and compliance, the Freelance.com group describes its objective as “to free, simplify and secure relations between businesses and their external talent.”