Much like in other industries, companies in the HR Tech space have seen a significant pullback in valuations compared to their February levels. This contraction in valuation multiples has impacted the HR Tech focused companies more than their diversified peers, with a 35% drop compared to 25% for Diversified HR Tech. HR Services, meanwhile, pulled back by 30% on average. 13 acquisitions were announced in March, in the US and Europe. This follows the transformational acquisition of Saba by Cornerstone, which is expected to trigger further consolidation in the space.
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