KABi Technologies (formerly OHR), a KSA-based HR consultancy, has announced that it has acquired BLOOVO, a UAE-based AI-powered recruitment technology solutions provider, in the largest acquisition of its kind in the HR technology sector in the Middle East and North Africa, the company announced in a statement. KABi, which has a capital of SAR 200 million, explained that this acquisition has contributed to the creation of a huge regional entity specialised in providing exceptional solutions that support the digital transformation of the human resources sector in the Kingdom, in line with the Kingdom's Vision 2030.
In this regard, the CEO and Vice Chairman of the Board of Directors of KABi, Khaled Al Oraij, commented on this acquisition, saying: “This acquisition will enable the company to strengthen its position as a leader in the field of human resource technologies, through its system of innovative smart solutions that will revolutionise the current HR practices to be made more efficient and dynamic. In addition, as a result of the integration and the future vision of the company's leadership, this acquisition will enhance the company's ability to expand and innovate. He added: “the global investment in digital transformation is expected to reach $1.8 trillion in 2022, with a growth rate of 18% compared to 2021. It is worth noting that the global HR technology market is also expected to reach $90 billion in 2025. In the same context, the volume of investment in the artificial intelligence sector will reach $190 billion by 2025, an increase of three times what it was in 2020”.
On this occasion, Dr. Ahmad Khamis, CEO of BLOOVO said: “We are happy to be joining hands with KABI by integrating BLOOVO’s AI-enabled solutions with KABI’s solutions. We are talking about a local giant in the making in the HR Tech domain. The integration of BLOOVO into KABI will provide a truly intelligent talent acquisition experience that operates in tandem with KABI’s offering to deliver hiring success and achieve the sought-after digital transformation in HR”.
This acquisition will have many benefits that KABi will benefit from, including controlling a larger market share in the human resources technology sector, driving the pace of business growth, improving the quality of solutions and services provided to companies and individuals, in addition to maximising competitiveness, developing corporate governance and creating greater added value through the accumulation of partner experiences and joint services.
KABi, via BLOOVO, has won several international awards accrediting its leadership in the HR Tech domain in MENA. It has revolutionised the e-recruitment landscape by being the pioneer in embedding AI in the hiring process. BLOOVO has 5 main products; HYRDD – the market leader AI-powered Applicant Tracking System; BLOOVO Job Board with more than 2 million profiles & +3,500 companies; BKATHON – its cloud-based virtual hackathon platform; INVIEWS – its AI-powered video interviewing tool; and Algorithmus – being an AI-as-a-Service platform integrating with other recruitment systems to rank applicants against job descriptions using AI, in real-time through its API.
“With this acquisition, KABI is at the forefront of recruitment technology innovation, having a great team in place to drive this vision. KABI’s acquisition of BLOOVO will help prospective customers in accelerating the transition to a digitised, automated and smart experience-driven recruitment function, as well as helping stakeholders with localisation mandates & nationalisation plans to achieve their objectives in line with Vision 2030, as well as achieving enterprises’ own hiring goals in an efficient, smart & timely manner," added Al Oraij.
KABI has a vision of being the pioneers of digital transformation in the HR Tech sector and being the ideal partner for creating sustainable value through its innovative solutions that ensure a positive impact. KABI is also on a mission to create and apply the best human capital practices powered by AI algorithms to efficiently improve various work environments and facilitate the business process.