The month of June continues May’s trend of deal making in the HR tech space.
Hot on the heels of HireVue acquiring Modern Hire, Lepaya buying Krauthammer and becoming Europe’s largest EdTech, and Edenred purchasing Reward Gateway for €1 billion, human capital management (HCM) giant UKG has now bought Immedis from CluneTech.
Immedis is a global payroll provider, headquartered in Ireland, that operates in 160 countries globally, and is a long-term partner of UKG, which provides payroll as part of its HCM offering.
Financial terms of the deal are not disclosed, but the deal is expected to close in 60 days.
Talking about the deal, Terry Clune, founder of Immedis and CluneTech, shared: “Combining Immedis and UKG ensures that businesses and their employees will have the best possible multi-country payroll experience.
“As a longtime UKG partner, we have a great track record of success together.
“Joining UKG expands the reach and impact of our ground-breaking technology. It also presents tremendous new opportunities for the exceptional people who make Immedis special.
“I am extremely proud of our incredible team, and I’m delighted that each of our 370 Immedis staff will gain from this acquisition.”
The pros for HR teams
Hugo Sarrazin, chief product and technology officer, tells UNLEASH: “Our customers have been asking us to modernise multi-country payroll for some time now because of the intimate connection between scheduling, time management, and payroll.
“We knew we wanted to take the industry’s first technology-led approach to multi-country payroll. That is what the acquisition of Immedis allows us to do.”
According to UKG, this will be particularly useful for customers headquartered in the US or Canada who require support processing payroll outside of North America, or who want a unified, global view of their payroll, even if they use a different provider.
In addition, following the acquisition UKG will launch UKG One View; this will be close collaboration with the Immedis team, and bring the strength of both organizations and their technology to the global payroll space.
Sarrazin adds: “Anyone who processes payroll for employees in more than one country knows how frustrating the process is. Every in-country provider has different inputs, different outputs, different validation processes.
“The employee experience differs based on country. There’s no single source of truth. The entire process is reactive instead of proactive.
“With UKG One View, we’re flipping this on its head. UKG One View is going to modernize and transform multi-country payroll.”
UKG One View will give employers real-time access to employee payroll data, and also ensure HR teams have visibility across all their payroll systems for different countries.
For employees, UKG One View is available in 20 languages, provides a consistent employee experience across different apps, and globally compliant pay slips.
UKG CEO Chris Todd concluded: “The acquisition of Immedis and the introduction of UKG One View is transformative for the HCM industry, delivering unprecedented levels of visibility, flexibility, and accuracy to the multi-country payroll process.
“Having worked closely and strategically with Immedis for several years now, we’re thrilled to welcome the entire Immedis team into the UKG family.”
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