PE-backed iSolved HCM to buy Sage Payroll Solutions

iSolved HCM, which is backed by Accel-KKR, has agreed to acquire Sage Payroll Solutions, Sage Group‘s U.S.-based payroll outsourcing business. No financial terms were disclosed.

PRESS RELEASE

CHARLOTTE, N.C., Jan. 15, 2019 /PRNewswire/ — iSolved HCM announces that it has agreed to acquire Sage Payroll Solutions (“SPR”), the US-based payroll outsourcing business of The Sage Group plc (LSE: SGE). 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. The acquisition accelerates iSolved’s growth in the human capital management industry, targeted toward the midmarket, and increases its licensee and 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.

About iSolved
iSolved HCM is an industry-leading human capital management technology company that brings together the key workforce functions in one robust, easy-to-use platform, iSolved. iSolved, now with Mojo, makes it easy for teams to build connections and unleash innovation. The HCM platform manages all mission-critical functions, including payroll, HR, time & attendance, and benefits, delivered from a single application. Built-in tools and features boost engagement, collaboration, and performance. It has achieved rapid market share, with more than 3.5 million employees and growing. iSolved is delivered through elite, regional payroll providers who provide customers with the white-glove service they demand. This unique approach gives employers access to a cutting-edge HCM solution, while retaining the local service relationship they prefer. For more information, visit www.isolvedhcm.com.