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Singapore – AI recruitment platform X0PA acquires Nastrac Group

07 January 2019

Singapore-based X0PA, an AI software platform for HR and recruitment, announced that it has fully acquired search firm Nastrac Group in a share swap deal.

Financial terms of the transaction were not disclosed.

According to X0PA, the acquisition will combine Nastrac’s recruitment services expertise with X0PA’s AI products to create “innovative” managed services for its clients.

Nastrac, also based in Singapore, specialises in providing executive search, consultancy services and diversity solutions. Nastrac states that it works with its clients to identify problem areas and sources highly skilled mid-senior level and C-suite professionals.

Current Nastrac clients will be managed by a new entity, X0PA Managed Services. The company will use AI to match candidates to jobs and automate parts of the hiring process for “faster and better hiring decisions.”

DealstreetAsia reports that X0PA will also open a new office in Helsinki, Finland to target the European market. The current CEO of Nastrac Group, Farida Charania, will head the Helsinki office which will form the European headquarters for X0PA.

According to X0PA, the combined entity claims it will help companies reduce the cost to hire by 50% and time to hire by 87%.

Jussi Keppo, co-founder and Head of data science at X0PA said, “Nastrac’s 20 years of experience and global presence, domain knowledge and insights are key to our data modelling and algorithms. I am delighted with this acquisition, it will further enable us to create innovative AI solutions for our platform.”

Founded in 2017, X0PA is an artificial intelligence platform for people management that uses data analytics, machine learning and advanced algorithms to produce predictions for business leaders, managers, employees and candidates.

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