iSolved HCM has agreed to acquire Sage Payroll Solutions (“SPR”), the US-based payroll outsourcing business of The Sage Group plc.
SPR includes more than 44,000 small- to midsized companies as customers through both direct sales and licensees, which will extend the iSolved technology to more than 145,000 employers once the transaction has completed.
According to the news release, the acquisition will accelerates iSolved’s growth in the human capital management industry, targeted toward the midmarket, and increase its partner network as well.
“SPR has a long-standing reputation of providing small- and medium-sized companies with superior payroll solutions,” said Rob Palumbo, managing director at Accel-KKR. “We look forward to adding this business to the iSolved portfolio, thus extending iSolved’s market-leading position.”
iSolved HCM, headquartered in Charlotte, North Carolina, delivers a unified human capital management platform both directly and through a network of elite service bureau partners. Focused on the mission-critical functions of payroll and HR, as well as cutting-edge, people-centric solutions, the iSolved technology is a robust, cloud-based solution that serves over 3.5 million employees. iSolved HCM also announced the acquisition of AmCheck last year, which provided regional offices in key cities including San Diego, Phoenix, and Schaumburg, Illinois.
“iSolved HCM is very excited to be acquiring SPR,” stated Dave Dawson, CEO of iSolved HCM. “SPR payroll customers and licensees will now have access to cutting-edge HCM technology that includes employee engagement, performance and collaboration, benefits enrollment, time and attendance, as well as a payroll platform that is ideal for today’s employer. iSolved HCM has experienced phenomenal growth over the last few years, and this acquisition dramatically expands the users and businesses who trust iSolved for their workforce management needs.”
The transaction is expected to be complete within the next three months, subject to customary completion conditions.