Paylocity acquiring corporate spend startup Airbase for $325M

Quick Summary:

HR and payroll software company Paylocity has agreed to acquire corporate spend startup Airbase for $325 million, the companies announced Wednesday.

The deal is subject to regulatory approval and is expected to close in the first or second quarter of Paylocity’s fiscal year, which would be sometime in the next 30 to 60 days.

Headquartered in Schaumburg, Illinois, Paylocity is publicly traded and according to Yahoo Finance, has a current market capitalization of just under $9 billion, with about 40,000 customers.

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Author / Journalist: Mary Ann Azevedo

Category: Technology

Markets: United States

Topics: Startups Fintech

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-04 @ 21:24:31 (10 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1049 words

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Sentences: 23 lines

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Copyright Owner: © TechCrunch

News ID: 22369874

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