Sage acquires HR and payroll firm Paychoice

22nd Sep 2014 13:00

FTSE 100-listed Sage Group has taken ownership of Paychoice, which provides payroll and HR services for small and medium-sized businesses in the US.The group said the move accelerates its move to the Cloud by leveraging its software as a service (SaaS) platform.The £96.9m purchase is expected to strengthen the group's position within the payroll market and enable it to provide a more robust and comprehensive offering.The portfolio is expected to provide various growth opportunities, particularly through new customer acquisition and cross-selling to the combined customer base.Sage's North American chief executive, Pascal Houillon, said: "PayChoice is an excellent business, with a strong management team, attractive cloud platform and a proven business model based on supporting the needs of small and medium-sized businesses and licensees."We are excited about the growth opportunity that the combination of Sage and PayChoice creates in this market and delighted to welcome the management and staff of PayChoice to Sage."The transaction is expected to be completed in October.