DENVER and DETROIT, Mich., August 4, 2014 –IQNavigator, the leading provider of non-employee workforce management solutions to Global 2000 companies, and MSX International, a leading global business process outsourcing, training, and human capital management company, today announced that IQNavigator has sold its managed service provider (MSP) division to MSX International, Inc. (MSXI).
MSXI will combine its existing MSP business with IQNavigator’s MSP operations to form Geometric Results, Inc. (GRI), a new global human capital services company that becomes the world’s largest independent MSP. Terms of the deal were not disclosed.
“MSXI has always created value for our customers, partners, employees and shareholders. GRI will combine the best practices of these two world-class MSP organizations with unparalleled experience. Being the world’s largest independent MSP is a testament to the success and customer focus of MSP operations of MSXI and IQN. GRI’s independence signals to customers across all industries that our economic interests are in alignment. With GRI solely focused on MSP services, we will deliver new levels of innovation and leadership to help our clients solve their greatest workforce management challenges,” said Fred Minturn, CEO of MSX International.
The sale of the division to MSXI enables IQNavigator to focus on its core business of delivering technology solutions that help global enterprises better manage their non-employee workforces, and furthers its position as the largest independent VMS provider.
“IQNavigator is a technology company with a vision that focuses on the value we deliver to our community of customers and partners,” said Joe Juliano, president and CEO, IQNavigator. “We value the MSP team’s significant contributions to IQNavigator and have full confidence that they will continue to thrive and add value at Geometric Results. The sale of the MSP division will allow us to be laser focused on building and delivering a technology solution that includes the right functionality and new levels of innovation that will help global companies make better labor decisions.”
The significant talent and years of MSP thought leadership within both MSXI and IQNavigator will enable the team to integrate easily. The similarities of both cultures, each with a quantified track record and commitment to service delivery excellence, will ensure their customers will derive even greater benefit from this newly established enterprise.
IQNavigator and MSXI have a strong and enduring partnership that will continue after the close of this transaction. The separate companies will focus on their core strengths while offering trusted resources and differentiated customer-focused options for enterprise companies needing a global end-to-end vendor-neutral solution for contingent labor and services procurement.