Aquent

Last updated
Aquent
TypePrivate
Industry Professional services
Founded1986
Headquarters Boston
Area served
Worldwide
Key people
 John Chuang (co-founder and CEO)
Services Employment agencies
$500 million (2006) [1]
Website aquent.com

Aquent is a staffing company specializing in placing temporary employees in marketing and creative industries. According to Staffing Industry Analysts, it is among the "largest marketing/creative staffing firms in the United States". [2] Aquent also operates internationally with offices in Japan, Canada, Australia, France, UK, and the Netherlands. [3]

Contents

History

Harvard College students John Chuang, Mia Wenjen and Steve Kapner in 1986 founded a typesetting business called Laser Designs from their Harvard dorm. [1] [4] [5] The business grew and they added temporary staffing related to Mac training as an offering and called it MacTemps. [1] MacTemps grew, adding non-Mac as well as permanent placements. With MacTemps no longer reflecting the business, they changed their name to Aquent, intended to mean "not a follower" in Latin. [6]

The company has grown substantially and entered into new business areas through acquisitions.

The company saw a drop in revenue in 2001 in the aftermath of the dot-com bubble with revenue dropping in 2001 compared to 2000. [7] To counter the drop off in business, Aquent purchased Renaissance Worldwide Inc., an IT consultancy and staffing firm, for $106 million. [7] Aquent at that time had been known for offering staffing of print and web designers. [7] The deal allowed Aquent to also offer back end support staffers, which was considered by the company to complement well as a package solution. [7] The acquisition of Renaissance also included a municipal and state government IT consulting subsidiary, which as initially planned was sold months later in 2002 to EOne Global for $45 million. [8]

In 2003, Aquent Studios was launched as a marketing division within Aquent that provides companies with an on/off site studio, which produces creative and marketing content. Aquent Studios also operates internationally. [3] [9]

In 2003 the company made a hostile takeover offer for Computer Horizons Corporation, a computer network services company with a staffing business segment. [10] Aquent through its investment banker Robert W. Baird & Co. had initially approached Computer Horizon's management on April 3, 2003 with an invitation to have dinner, which was rejected by Bill Murphy, the President and CEO of Computer Horizons. [11] Aquent then proceeded to launch a cash tender offer on April 14, 2003 that valued Computer Horizons at $154 million. [11] This proposal was opposed by management and in May the offer was rejected. [11]

Aquent acquired Corporate Project Resources Inc. (CPRi), a staffing agency for marketing jobs, in 2005 for $25 million and renamed it Aquent Marketing Staffing while keeping its operations in Chicago. [12]

In 2006, Aquent acquired Seattle-based Sakson & Taylor, a content design and development consulting and staffing firm with a significant presence at Microsoft, along with offices in several cities. The Sakson & Taylor brand (with "an Aquent company" appended) was retained for some years, but is no longer used. The former Sakson & Taylor headquarters are now Aquent's Seattle offices. [13]

New Divisions

In 2011, Aquent launched a new division, Vitamin T, which focuses on placing "digital creatives" with marketing departments and advertising agencies for contract assignments.[ citation needed ] [14]

In 2012, Aquent launched Gymnasium offering free online courses for creative talent. [15]

In November 2022, Aquent announced that its talent and recruiting business and its Vitamin T brand will together become Aquent Talent. [16]

Company Structure

In November 2022, Aquent announced a restructuring. [17] The restructuring positions Aquent LLC as the parent brand of these global work solutions products:

Sustainability

Aquent announced a goal to erase its entire carbon footprint of 35 years. From 2019 to 2021 the company reported a 90% reduction of its carbon footprint. [18]

Diversity+

Aquent launched a diversity recruiting solution for hiring managers called Diversity+. This solution provides diversity recruiting strategies to clients. [19]

Publications

Aquent releases a yearly Salary Guide for marketing, creative, and design talent. The 2023 Salary Guide revealed that despite inflation peaking at 9.1% in 2022, salaries across these positions increased by just 1.1%, and gender and ethnicity wage disparities are still prevalent. [20]

Recognition


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References

  1. 1 2 3 "John Chuang". BizTech. November 27, 2007.
  2. ↑ "2015 Largest Marketing/Creative Staffing Firms in the United States". Staffing Industry Analysts. Archived from the original on 2016-10-26. Retrieved 2016-05-15.
  3. 1 2 "History". aquent.com. Retrieved 2019-10-10.
  4. ↑ "Litl Introduces Its Web-Based Netbook". Wall Street Journal. November 4, 2009.
  5. ↑ "Sites to Help Professional Workers Who Like to Go It Alone". New York Times. October 14, 1999.
  6. ↑ "A Generation of Freelancers". New York Times. August 15, 1999.
  7. 1 2 3 4 "Aquent acquires Renaissance". Boston Business Journal. December 31, 2001.
  8. ↑ "'E-Taxes' Fuel Merger". New York Times. April 18, 2002.
  9. ↑ "Our Approach". Aquent Studios. Retrieved 2019-10-10.
  10. ↑ "Computer Horizons Buys RGII Technologies". New York Times. July 10, 2003.
  11. 1 2 3 "Computer Horizons rejects Aquent bid". MarketWatch. May 2, 2003.
  12. ↑ "Aquent acquires CPRi". Ad Age. July 25, 2005.
  13. ↑ "Sakson & Taylor acquired by Aquent". www.bizjournals.com. Retrieved 2023-05-12.
  14. ↑ "Aquent launches new division Vitamin T". Vitamin Talent. May 11, 2011. Archived from the original on 2020-10-25.
  15. ↑ "Our History". Archived from the original on 2016-09-17.
  16. ↑ https://aquent.com/news/aquent-s-staffing-and-recruiting-business-and-vitamin-t-brand-become-aquent-talent-to-address-high-demand-for-specialized-remote-workers
  17. ↑ https://aquent.com/news/aquent-s-staffing-and-recruiting-business-and-vitamin-t-brand-become-aquent-talent-to-address-high-demand-for-specialized-remote-workers
  18. ↑ "Corporate Sustainability Initiative | Aquent". aquent.com. 2023-01-31. Retrieved 2023-05-12.
  19. ↑ "Aquent to help businesses committed to improving workplace diversity | Aquent". aquent.com. 2021-10-08. Retrieved 2023-05-12.
  20. ↑ https://aquent.com/news/aquent-s-2023-salary-guide-reveals-stagnant-wages-and-narrowing-gender-pay-gap
  21. ↑ PEACHMAN", "RACHEL RABKIN. "America's Best Temp Staffing Firms 2023". Forbes. Retrieved 2023-05-12.
  22. ↑ "John H. Chuang – The Staffing 100". si100.staffingindustry.com. Retrieved 2023-05-12.
  23. ↑ "PRO Unlimited Honors Suppliers for Superior Service in Contingent Workforce Management". PRWeb. Retrieved 2023-05-12.
  24. ↑ "10 employers that provide health benefits to all employees equally | Aquent". aquent.com. 2020-07-29. Retrieved 2023-05-12.
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