News and Articles
MPS Group is Successful Bidder for Chimes’ Assets
Jacksonville, FL (January 24, 2008) –Beeline, the workforce solutions business unit of MPS Group, Inc. (NYSE:MPS), today announced that it was the successful bidder for the assets of Chimes, a competing vendor management solution. The closing of the transaction is subject to certain contingencies, but it is anticipated that the transaction will close by the end of the month.
Chimes was founded in 1998 and is a leading provider of vendor management software and onsite services. In February 2007, Chimes was purchased by Axium International, which filed Chapter 7 bankruptcy on January 9, 2008. Yesterday, the assets of Chimes, including software platforms and related intellectual property, were auctioned through bankruptcy proceedings in the United States District Court in Los Angeles.
Axium International was also in the business of providing payroll and accounting services to the entertainment industry. MPS Group has no interest in pursuing any additional Axium International asset other than the assets of Chimes.
“The anticipated acquisition of Chimes' assets will make Beeline the clear leader in vendor management solutions with potential oversight of more than $3 billion in annual contingent labor spend,” stated Timothy Payne, president and chief executive officer of MPS Group. “Chimes’ clients and users can now feel comfortable that they will be supported by a large and financially strong public company that has a long-term commitment to providing world-class workforce solutions.”
“We are aware that many Chimes’ clients have suffered recent disruptions to their operations due to Axium’s bankruptcy filing,” added Richard White, president of Beeline. “We are ready and able to jump in and provide the resources and solutions necessary to get these clients back online and operating efficiently.”
About Beeline
Beeline provides workforce solutions that allow leading companies, healthcare organizations and government entities to effectively manage employee recruitment, development and retention. Beeline streamlines the deployment of permanent, contract and project based labor through learning management, performance management, talent management, and eLearning. Beeline CWS (contingent workforce solutions) is a leader in vendor management software and services. For more information, please visit www.beeline.com.
About MPS Group
MPS Group is a leading provider of staffing, consulting, and solutions in the disciplines of information technology, finance and accounting, law, engineering, and healthcare. MPS Group delivers its services to government entities and businesses in virtually all industries throughout the United States, Canada, the United Kingdom, and Europe. A Fortune 1000 Company with headquarters in Jacksonville, Florida, MPS Group trades on the New York Stock Exchange. For more information about MPS Group, please visit www.mpsgroup.com.
