HireQuest Acquires Recruit Media For Undisclosed Sum - HireQuest (NASDAQ:HQI)

HireQuest Inc HQI has acquired Recruit Media, Inc., an HR tech start-up with a next-gen SaaS recruitment platform, for undisclosed financial terms.
Recruit Media enables candidates to create multimedia profiles and convey their skills to potential employers. It also streamlines communications with text-based chat as well as in-app video chat.
HireQuest will integrate the Recruit Media platform with its existing technology suite used by its franchisees to run their day-to-day business.
Recruit Media's technology will streamline workforce communications and allow franchisees to serve their customers better.
HireQuest paid for the transaction with cash on hand and a modest revolver draw. It held cash of $2.2 million as of June 30, 2021.
Price Action: HQI shares are trading higher by 0.67% at $19.49 on the last check Monday.