Velocity Global Acquires Shield GEO
Velocity Global continues to scale its leading global work platform with the acquisition of Shield GEO, an established global Employer of Record (EoR) provider. This is Velocity Global’s second acquisition this year, after it acquired iWorkGlobal in April. The company deployed capital from the $100 million growth investment from FFL Partners announced in April to complete the transaction. Terms of the deal were not announced.
“For the last seven years we built our platform to support how and where work gets done. This now allows us the strategic position to scale up to meet the accelerated demand from the shifting workforce,” said Ben Wright, Velocity Global founder and CEO. “Both sides of the employment equation — employers and employees — fundamentally changed in the last 18 months. It’s not just about working from anywhere, it’s about how to recruit, how to retain employees, how to grow revenue, and how to manage a newly empowered work-life balance.”
“We share a proud history of organic growth, and now was the time to combine the global reach of Shield GEO with that of Velocity Global, and deliver an even greater experience that the market is demanding,” said Duncan Macintosh, Shield GEO co-founder. “This combination multiplies the growth opportunity for our team.”
Shield GEO is based in Hong Kong with entities in the U.K. and Australia, and a global remote team. The combined company welcomes all 75 Shield GEO employees and is led by Wright under the Velocity Global brand. Burgess and Macintosh will support the integration of Shield GEO into Velocity Global.
Announcement: Velocity Global Acquires Shield GEO