Sage North America has finalized the closing of its acquisition of privately-held PayChoice, a provider of payroll solutions for small and medium-sized businesses (SMBs). Under Sage management, the payroll systems will now be known as Sage Payroll Solutions.
This acquisition will help Sage create greater value and peace of mind for SMBs by extending the company’s portfolio of offerings to now provide its customers with easy to use online payroll solutions with seamlessly integrated services.
PayChoice officially joins Sage today with the close of the sale, initially announced last month. Payroll and compliance with constantly changing employer regulations are two consistent challenges for SMBs. This acquisition will enable Sage to provide intuitive payroll solutions as well as integrated ancillary services such as tax filing and direct deposit as part of the company’s core offerings, making it easier for small and medium-sized businesses to consolidate and review business data, manage relationships, and simplify day-to-day operations.
“PayChoice is thrilled to become a part of Sage,” said Robert Digby, CEO, PayChoice. “We already share so many synergies: our heritage of supporting SMBs, our culture, our emphasis on customer experience, and our focus on accountants and financial institutions. This is a great move for our company, our licensees, and our employees and we see nothing but tremendous opportunity in the future.”
PayChoice is a portfolio company of Great Hill Partners, Baird Capital and North Hill Ventures. Raymond James & Associates acted as financial advisor and Goodwin Procter LLP served as legal advisor to PayChoice. William Blair & Company acted as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Sage.
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Tags: Payroll, Payroll Software
