PENFIELD (dpa-AFX) - Paychex, Inc. (PAYX), a human capital management company, announced on Monday that it has completed the acquisition of Paycor HCM, Inc. (PYCR), a provider of human capital management, payroll, and talent software, for $22.50 per share in cash or enterprise value of around $4.1 billion.
The company expects annual cost synergies of over $80 million in fiscal 2026 and substantial revenue synergy opportunities over the next several years. The acquisition is also anticipated to be accretive to adjusted income per share in fiscal 2026.
John Gibson, CEO of Paychex, said: 'This transaction strengthens our competitive position upmarket, unlocks new revenue opportunities, and positions us for sustainable long-term growth. Our integration strategy will prioritize accelerating sales expansion and product innovation to drive our growth.'
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