Tuesday, October 15, 2024
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Paylocity to acquire spend management platform Airbase for $325m

  • 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.

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