LOWELL, Mass. & WESTON, Fla.--(BUSINESS WIRE)--Jun 6, 2023--
To transform multi-country payroll with the HCM industry’s most adaptable, intelligent experience for multinational businesses, UKGInc., a leading provider of HR, payroll, and workforce management solutions for all people, has reached an agreement to acquire Immedis, a leading global payroll provider with technology and services supporting over 160 countries. The acquisition, subject to closing conditions, is expected to be complete within 60 days.
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UKG today announced an agreement to acquire Immedis. With the acquisition, UKG will launch UKG One View to modernize and transform multi-country payroll for multinational businesses by delivering unprecedented flexibility, real-time visibility, uniform controls, and an exceptional employee experience - all regardless of in-country provider. (Graphic: Business Wire)
Immedis, founded in Ireland in 2016, is a subsidiary of CluneTech, a suite of technology companies focused on simplifying global business. With 370 employees worldwide, Immedis has built an extensive multinational customer base spanning key industries. Demand for the Immedis payroll platform has grown strongly, and this acquisition reflects an increase in valuation above its last investment round.
Once the acquisition is complete, UKG will launch UKG One View later this year. Developed in close collaboration between UKG and Immedis, One View utilizes the strengths of both organizations to transform the traditionally fragmented global payroll model. With One View, customers will benefit from a:
- Singular “schedule to fund in one” experience that combines an AI-powered perpetual validation engine and continuous workforce management integration to provide a real-time view across all employees, regardless of country or provider, to identify trends, variances, and other insights;
- Hybrid deployment model which can be deployed in weeks, allowing customers to bring other in-country payroll technology and services for immediate visibility, minimizing disruptions and accelerating time-to-value;
- Uniform workflow control in a single-pane view that creates one operational standard across countries, simplifying benchmarking and enhancing in-country provider accountability; and
- Consistent employee experience for all in an intuitive application, supporting 20+ languages across 160 countries, with better usability, support, and a globally compliant pay slip that inspires confidence they are being paid fairly and accurately.
“Traditional global payroll is a cumbersome and complex process that too often relies on a patchwork approach, lacks transparency and insight, and is prone to errors that hurt both people and organizations,” said Hugo Sarrazin, chief product and technology officer at UKG. “Even in 2023, most companies still lack a single, reliable, and accurate way to understand how much they’re paying employees worldwide. Those that do know have invested in costly and time-consuming manual efforts, which still result in outdated information they can’t use proactively. The formidable combination of UKG and Immedis will be transformative and help us reshape and modernize how North American-based global businesses manage their people — and compliance — worldwide.”
“Tackling the persistent challenges of global payroll and compliance across multiple countries through completely new and innovative approaches that are technology-led has been the driving force behind our work at Immedis,” said Richard Limpkin, co-founder and chief strategy officer at Immedis. “Now, coupled with the powerful UKG HCM suite and its industry-leading global workforce management, we’re excited to help further redefine the entire multi-country payroll market.”
Immedis provides organizations with a modern, global payroll technology platform built on a perpetual validation engine. This allows for consistent data modeling and reporting, regardless of in-country provider. It also offers payroll managed services in 160 countries and 120 currencies.
Through the acquisition, UKG will immediately begin offering fully managed, multi-country payroll service for businesses headquartered in the U.S. and Canada that seek support processing payroll outside of North America, or that simply want a unified, global view of their payroll around the world, even if they already have preferred payroll providers.
“Combining Immedis and UKG ensures that businesses and their employees will have the best possible multicountry payroll experience. As a longtime UKG partner, we have a great track record of success together,” said Irish entrepreneur Terry Clune, founder of Immedis and CluneTech. “Joining UKG expands the reach and impact of our ground-breaking technology. It also presents tremendous new opportunities for the exceptional people who make Immedis special. I am extremely proud of our incredible team, and I’m delighted that each of our 370 Immedis staff will gain from this acquisition.”
“The acquisition of Immedis and the introduction of UKG One View is transformative for the HCM industry, delivering unprecedented levels of visibility, flexibility, and accuracy to the multi-country payroll process,” said Chris Todd, CEO at UKG. “Having worked closely and strategically with Immedis for several years now, we’re thrilled to welcome the entire Immedis team into the UKG family.”
About UKG
At UKG, our purpose is people. As strong believers in the power of culture and belonging as the secret to success, we champion great workplaces and build lifelong partnerships with our customers to show what’s possible when businesses invest in their people. One of the world’s leading HCM cloud companies today, UKG and our Life-work Technology approach to HR, payroll, and workforce management solutions for all people helps more than 75,000 organizations around the globe and across every industry anticipate and adapt to their employees’ needs beyond just work. To learn more, visit ukg.com.
About Immedis
Immedis delivers secure, compliant, touchless payroll for global organizations in 160+ countries. The Immedis Platform provides payroll leaders a unified view of global payroll operations, real-time data analytics, and advanced reporting capability while ensuring legislative compliance and data security. With deep integration capabilities with HCM, finance, and many other partners, Immedis transforms payroll from manual administration to a secure, streamlined process through the provision of both technology and service. Immedis, a subsidiary CluneTech Group, employs 370 people worldwide.
About CluneTech
CluneTech is a suite of software technology companies providing solutions to simplify global business. Our technologies streamline complicated business processes in areas including digital sales, global payroll, tax compliance, global VAT & cross-border payments. We aim to make business better for our customers worldwide. CluneTech is headquartered in Ireland, with over 1,600 employees globally. Companies within the group include TransferMate, Taxback International, Taxback.com, Sprintax, VisaFirst and Benamic. To learn more, please visit CluneTech.com.
Copyright 2023 UKG Inc. All rights reserved. For a full list of UKG trademarks, please visit ukg.com/trademarks. All other trademarks, if any, are property of their respective owners. All specifications are subject to change.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20230606005759/en/
CONTACT: UKG Contact:
Dan Gouthro
+1 978 947 7310
daniel.gouthro@ukg.com
Immedis Contact:
Tiffany Appleby
+1 214 842 3490
tiffany.appleby@immedis.com
CluneTech Contact:
Fiona MacCarthy
+353 87 9314131
fiona.maccarthy@clunetech.com
For Sales Information:
UKG
+1 800 225 1561
ukg.com
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA MASSACHUSETTS
INDUSTRY KEYWORD: TECHNOLOGY HUMAN RESOURCES FINANCE CONSULTING PROFESSIONAL SERVICES SOFTWARE ASSET MANAGEMENT DATA MANAGEMENT OTHER PROFESSIONAL SERVICES
SOURCE: UKG
Copyright Business Wire 2023.
PUB: 06/06/2023 11:45 AM/DISC: 06/06/2023 11:44 AM
http://www.businesswire.com/news/home/20230606005759/en
