HONG KONG, May 7, 2025 /PRNewswire/ -- Vistra, a leading provider of essential business services that help organizations to invest, grow and operate efficiently and compliantly across the world, today announced it has entered into an agreement to acquire iiPay, a market leader in cloud-based global payroll solutions. This strategic acquisition will significantly enhance the scale of Vistra's payroll capabilities in the fast-growing mid-market and enterprise multi-country payroll space, positioning Vistra as a top 4 market leader in global payroll.
Once completed, the combined business will process almost ten million payslips annually and operate in over 170 markets. To bring clients more compelling solutions, Vistra will leverage both organizations' highly complementary capabilities: iiPay's deep outbound payroll expertise and capabilities in the US, Canada, Europe and Latin America, together with Vistra's established in-country payroll and advisory capabilities across the Asia Pacific and EMEA regions.
iiPay's scalable, multi-country platform is driven by innovative technology that automates and solves the complexities of managing global payroll, increasing time savings, reducing manual intervention, and enhancing the experience for clients' employees. Combining this technology with local payroll delivery through in-house payroll experts, and a strong partner network of in-country affiliates with deep understanding of local legislation and regulatory requirements, creates a compelling end to end scaled global payroll solution.
The expertise, capability, and innovative mindset of the iiPay team have enabled it to build a strong client base, including well-recognized corporate customers, that use its payroll solution to support their international expansion, particularly where payroll complexities are high. For iiPay clients the acquisition enables access to Vistra's global expertise and products including multi-country entity management, tax, statutory accounting compliance, and HR advisory services.
Simon Webster, CEO of Vistra Group, stated, "A seamless payroll experience is key to Vistra's vision of making operating globally feel borderless and frictionless. Our solutions help our clients to navigate complexity in both their domestic and international markets, and to operate efficiently and compliantly wherever they need to. The acquisition of iiPay means we will be able provide high-volume multi-country payroll while adding to our deep bench of specialist expertise. It is also an accelerator of our platform strategy that aims to redefine how the world does business, making corporate compliance effortless and driving progress without friction."
T. Curtis Holmes, CEO of iiPay, shared, "This is a landmark moment for both iiPay and Vistra, marking the beginning of an exciting new chapter in global payroll. This transformative acquisition propels iiPay and Vistra into a market leadership position in the global payroll industry. Together, we are combining our strengths to accelerate product innovation, expand our capabilities, and create opportunities for our teams. Most importantly, this positions us to deliver an exceptional experience for our valued clients on a global scale, which remains our top priority."
Completion of the transaction is subject to FCA approval.
For more information about Vistra, visit vistra.com
For more information about iiPay, visit iiPay.com
About Vistra
Here at Vistra, our purpose is progress. As a close ally to our clients, our role is to remove the friction that comes from the complexity of global business. We partner with companies and private capital managers along the corporate and private capital lifecycle. From HR to tax and from legal entity management to regulatory compliance, we quietly fix the operational and administrative frustrations that hamper business growth. With over 9,000 experts in more than 50 markets, we can accelerate progress, improve processes and reduce risk, wherever your ambition takes you.
About iiPay
iiPay is a global leader in innovative cloud-based payroll solutions offering an exceptional payroll experience in more than 170 countries. Leveraging advanced data management, analytics, business intelligence and employee self-service capabilities, iiPay empowers Payroll, HR, and Finance professionals with seamless global payroll management. iiPay's relentless dedication to customer service ensures that every client receives a transformative experience. iiPay simplifies global payroll operations and drives business success.
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