Paylocity to acquire spend management platform Airbase for $325m

Acquisition Deal: Paylocity has agreed to acquire Airbase, a spend management platform, for $325 million.
Funding: The deal will be funded through Paylocity’s revolving credit facility and is expected to close in the first or second quarter of fiscal 2025, subject to conditions and regulatory approval.
Integration: Paylocity plans to integrate Airbase’s finance and spend management software into its human capital management (HCM) platform.
Airbase’s Services: Airbase, founded in 2017, offers a range of financial solutions, including expense management, automated invoice processing, corporate cards, procurement, and workflow automation for mid-sized companies (100-5,000 employees).
Paylocity’s Client Base: Paylocity serves approximately 40,000 clients with payroll, benefits, HR, and talent management software through a unified platform.
Company Background: Paylocity, founded in 1997 and headquartered in Schaumburg, Illinois, has been publicly traded on Nasdaq since 2014.