- 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.
