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Paychex said the board of directors of both parties approved the transaction in an agreement that prices each Paycor share at $22.50, which represents a ~19% premium. Paycor, which serves over 49,000 clients, and supports about 2.7m employees across the U.S., has invested in data and artificial intelligence since going public in 2021, Paychex said.
“The acquisition of Paycor is highly complementary,” Chief Executive John Gibson said. “It will enhance our capabilities upmarket, broaden our suite of AI-driven HR technology capabilities, and provide new channels for sustained long-term growth.”
https://www.wsj.com/finance/investing/paychex-to-acquire-competitor-paycor-hcm-1b57567d
