- Paylocity has finalized a $325 million deal to acquire Airbase, a spend management platform, to expand its HR and payroll software solutions.
- The deal is expected to close in fiscal 2025, funded through Paylocity’s revolving credit facility, pending regulatory approval.
- Paylocity will integrate Airbase’s finance and spend management software into its Human Capital Management (HCM) platform.
- Airbase, founded in 2017 and headquartered in San Francisco, serves companies with 100 to 5,000 employees, offering automated invoice processing, expense management, procurement, corporate cards, and workflow automation.
- Paylocity, based in Schaumburg, Illinois, serves around 40,000 clients with unified payroll, benefits, and talent management software.
- Toby Williams, CEO of Paylocity, highlights that the acquisition will offer an integrated platform for businesses to manage operational spending.
- Paylocity has been publicly traded on the Nasdaq since 2014.
