Veritone to Acquire Broadbean, Signifying Deeper, Global Commitment for Veritone’s AI-powered Human Resources Solutions

Veritone, Inc. (NASDAQ: VERI) (“Veritone” or the “Company”), a leader in enterprise AI software and services, today announced its agreement to acquire Broadbean, a global leader of software-as-a-service (SaaS) technology that makes talent acquisition and engagement easier, faster and more efficient, from CareerBuilder. Covering more than 180 countries, serving 3,000+ clients and integrated with over 100 Applicant Tracking Systems (ATS) partners, the strategic acquisition of Broadbean will expand Veritone’s AI-powered human resources solutions offerings and will build upon Veritone’s acquisition of PandoLogic in 2022. Total consideration paid will be $52.5 million in cash on a cash- and debt-free basis. The acquisition is expected to be immediately accretive to Veritone’s operations, and on a standalone basis, is expected to generate SaaS and GAAP revenues of over $35.0 million on an annualized basis while contributing attractive EBITDA margins.