In a landmark agreement, U.S. multinational UKG is set to acquire Irish global payments provider Immedis from CluneTech, propelling the evolution of multi-country payroll systems. With an impressive price tag exceeding €550 million, this acquisition signifies a significant step toward transforming payroll operations worldwide.
Amidst an era of advancing technology and the growing complexities of global business, CluneTech, a prominent Irish tech firm, has strategically aligned with UKG to offload its globally recognized payroll provider, Immedis. This lucrative deal sets the stage for a collaborative endeavor that promises unparalleled innovation in the realm of multi-country payroll management.
Immedis has long been at the forefront of delivering comprehensive multi-country payroll solutions, catering to diverse industries spanning over 150 countries and 120 currencies. By joining forces with UKG, a renowned multinational known for its cutting-edge human capital management (HCM) suite, Immedis is poised to reshape the global payroll landscape with its technology-driven approaches.
CEO of UKG, Chris Todd, expresses enthusiasm for the partnership, highlighting the transformative potential it holds for multinational businesses. Through this integration, UKG and Immedis aim to create an unrivaled multi-country payroll experience, marked by flexibility and intelligent insights.
The union of UKG and Immedis not only signals groundbreaking advancements in the industry but also brings forth exciting career opportunities for Immedis employees. With a global workforce of 374 individuals, Immedis has established itself as a frontrunner in real-time data analytics for global payroll ecosystems. UKG's acquisition will enable Immedis staff to leverage their expertise within a dynamic multinational environment.
Richard Limpkin, co-founder and chief strategy officer at Immedis, emphasizes the significance of this partnership. Combining Immedis' pioneering technology with UKG's leading global workforce management capabilities, they aim to redefine and revolutionize the entire multi-country payroll market.
This milestone acquisition not only signifies the expansion of UKG's reach but also demonstrates the enduring impact of Immedis' ground-breaking technology. As Immedis employees embark on this new chapter, the remarkable potential of their collective expertise will be unleashed. Founder Terry Clune acknowledges the instrumental role played by partners, Lead Edge Capital and Scottish Equity Partners (SEP), in Immedis' growth and expresses gratitude for their unwavering support.
With the closing conditions in sight, the completion of this acquisition is expected within 60 days, heralding a new era of innovation and transformation in the realm of global payroll solutions. As UKG and Immedis join forces, their collaborative efforts promise to reshape the way businesses navigate the intricate landscape of multi-country payroll and compliance, ushering in a new era of efficiency and strategic growth.