Mountain View, California-based Elance and Redwood City, CA-based oDesk, two marketplaces for online work, signed an agreement to merge with each other.
Both companies operates platform for online work, which connect businesses with freelancers in real-time.
The merged company, which will be led by Elance chief executive officer Fabio Rosati, will continue to serve customers on two separate, complementary platforms at elance.com and odesk.com, respectively, and will have a combined global community of more than 8 million freelancers and 2 million businesses in over 180 countries.
oDesk executive chairman Thomas Layton will continue in the same role of the combined company while Gary Swart, oDesk chief executive officer, will act as a strategic advisor.
The name of the new company post-merger will be announced after the closing of the deal, which is subject to regulatory approval and is expected to occur in the next four months.
FinSMEs
19/12/2013
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