eWork and ProSavvy Merge

ProSavvy – a company I’ve been on the board of since 1996 – announced this week that they have merged with eWork.  The combined company (called eWork) is the leader in consulting project and contracted workforce services procurement, management, and payment and is a $42 million, profitable company.  We continue to be significant investors in ProSavvy and Seth Levine – who works with me at Mobius in Colorado – has joined the eWork board.

Seth has a comprehensive post on the merger, some history, the rationale, and the strategy of the go-forward business.  We’re very excited about the transaction and the prospects for eWork going forward, as ProSavvy was a solid, but slow growth company that needed a bigger overall platform to achieve its full potential.  We’ve been looking patiently for a merger partner for the past year, having talked to a number of companies that were tangential and/or complimentary to ProSavvy.  eWork was the most promising fit and – after a long effort on both sides to make sure that the combined company was greater than the sum of its parts – we moved forward with a deal.

The combination of scale, growth, and profitability matters a lot these days with regard to value creation for enterprise application software and services companies.  The combination of eWork and ProSavvy satisfies all of the parameters nicely and we’re optimistic about our ability to create a company with meaningful long term value.

  • http://intensedebate.com/people/hme hme

    i believe the original prosavvy online consulting-client placement firm was a fraud and should probably be investigated by the Justice Dept. They promised services they didnt deliver and created fictitious clients to pretend to contact you in order to make the appearance that they actually had hiring clients.__This is several years ago.__Did anyone have a similiar experience?

    • abc

      100% fraud !!! I paid $4000 to join as a consultant and I did not get one job !! Do NOT go through them !

    • abc

      100% fraud !!! I paid $4000 to join as a consultant and I did not get one job !! Do NOT go through them !

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