Bristol software company Gapsquare has been acquired by London-based online HR resource firm XpertHR for an undisclosed sum.
Gapsquare uses data analysis to help companies comply with gender pay gap regulations. Social entrepreneur Dr Zara Nanu founded the business in 2017 after hearing the World Economic Forum’s prediction that it would take 217 years before the gender pay gap would close.
Her firm’s tech uses advanced statistical analysis to identify variables for employee demographics such as gender, ethnicity, sexual orientation and disability, identifying the causes of pay gaps, and proposing and tracking remedial actions.
Last year, Gapsquare was named among the most innovative tech companies in the West of England.
XpertHR, part of information-based analytics provider RELX group, will retain the Gapsquare brand, it said, and Dr Nanu and Ion Suruceanu will continue to lead the business with support from XpertHR's leadership team.
According to Gapsquare, its software will be used to “strengthen” XpertHR’s compliance, best practice and reward offerings in the UK and US.
Dr Nanu said the acquisition would mean both companies were “better equipped” to support the needs of businesses globally.
“We know for many businesses transparency around compensation fairness and pay reporting is high on the agenda,” she said.
“Gartner research indicates that over 80% of businesses globally are driven to take action around pay equity and pay gaps as the workforce is changing and younger generations entering the workforce are increasingly interested in transparency, sustainability and equality."
Scott Walker, managing director XpertHR, added: “I am excited to bring Gapsquare into the XpertHR family.
“Our mission is a simple one: to create purposeful workplaces for every person in every organisation.
"Both businesses are dedicated to improving the experiences of millions of working professionals around the globe."
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