London-based accounting and payroll solutions company IRIS Software Group said on Wednesday it had acquired Swipeclock, a provider of cloud workforce management solutions, such as WorkforceHub and ApplicantStack, for small and medium-sized businesses.
Financial terms of the deal weren’t disclosed. Swipeclock, based in South Jordan, UT, will operate as an independent business within IRIS Software, according to a media release.
“In this emerging talent economy, the combination of IRIS and Swipeclock brings easy and much needed process integration to support finding the right people for jobs, planning, and scheduling their work, and paying for their time and contribution in one simple solution,” IRIS Software CEO Elona Mortimer-Zhika said in a statement. “IRIS is continuously examining the market for new technologies that address the evolving needs of our customers around the world.”
The acquisition expands London-based IRIS’s integrated human capital management (HCM) suite, which includes payroll, human resources, recruitment, and talent management offerings.
“Swipeclock is an excellent addition to the IRIS product portfolio and team. By bringing WorkforceHub and ApplicantStack into our core accountancy and HCM product families, we are broadening the solutions we deliver to customers by enhancing the capability and value of their technologies and businesses,” said Jim Dunham, president and general manager of IRIS Software Group Americas. “I’m so pleased to combine forces with a company like Swipeclock that is investing in the future of work and bringing core technologies like geofencing and facial recognition time tracking to market. Together, we are making best-in-class product features available to businesses of all sizes.”
IRIS said it will increase support of Swipeclock’s 1,300-plus partnership community, which serves the Utah company’s more than 45,000 customers, and it will integrate Swipeclock offerings into IRIS’s HCM platforms to address the changing needs of the overall payroll market.
“By joining forces with the IRIS team, their reputation, and resources, we are bringing Swipeclock into an exciting new phase of innovation and growth. I am delighted to deliver enhanced value to our customers, deepen our partner programs, and offer our team members expanded opportunities for personal and professional growth in a great and like-minded business,” said Swipeclock CEO Coleman Barney.
This acquisition follows IRIS’s December 2023 announcement of a significant investment from LGP, a Los Angeles-based private equity firm, in a transaction valuing the business at an EV of around £3.15 billion. Hg, a leading investor in European and transatlantic software and services businesses, also retains a co-controlling stake in IRIS.
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