CareerBuilder has acquired a majority stake in Textkernel to build up its search tools.
Textkernel develops semantic recruitment technology that aims to help employers and job seekers find the best search results. The idea is that if a job seekers and an employer describe the same thing with different words, Textkernel can pick up on the contextual meaning behind the vocabulary to deliver better search results.
Chicago-based CareerBuilder, an HR software business and owner of job site CareerBuilder.com, made a previous acquisition in 2012, adding Economic Modeling Specialists Inc., a unit of Gannett Co. (NYSE: GCI). The company is owned jointly by Tenga Inc. (NYSE: TGNA), Tribune Media (NYSE: TRCO) and the McClatchy Co. (NYSE: MN).
CareerBuilder says the deal helps it transform into a human resources Software-as-a-Service provider. Textkernel also developed a data analytics tool for jobs, Jobfeed, that CareerBuilder expects will help expand its supply and demand portal, which aims to gauge the difficulty of filling specific positions.