People 2.0 Global LP, a business process outsourcer providing back-office services to the human capital services sector, announced last week that it acquired independent contractor classification and payrolling firm Contingent Workforce Solutions Inc. at the end of June.

Terms of the transaction were not disclosed.

CWS is based in Toronto and provides IC compliance, employer of record, and payrolling solutions for contractors.

CWS owners — founder and CEO Jeff Nugent and CFO Steve Schaus — exchanged a “significant amount” of their shares in CWS for equity in People 2.0, according to People 2.0 Senior Marketing Manager Jess Zukus.

Both Nugent and Schaus will join People 2.0's leadership team. Nugent is taking the role of People 2.0’s chief strategy and global business development officer, and Schaus was appointed senior VP, corporate development.