Paylocity, a leader in cloud-based HR and payroll software solutions, has completed its acquisition of Airbase Inc., a modern finance and spend management software solution that combines bill pay / accounts payable automation, expense management, corporate cards and procurement capabilities. The acquisition of Airbase represents an expansion of Paylocity’s suite and is expected to deliver incremental integrated value to HR and finance leaders in managing all of their spend on a single platform – expanding the Paylocity total addressable market beyond HCM and further into the Office of the CFO.
The integration of Airbase’s finance solutions with Paylocity’s HCM platform will allow companies to manage all payroll and non-payroll spend through a single pane of glass, allowing for real-time visibility, faster financial close, improved planning, and stronger financial controls.
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“With our acquisition of Airbase, we are expanding our total addressable market to the Office of the CFO and strengthening our position as the most modern software platform in the market by enabling our nearly 40,000 clients, as well as prospects throughout our target market, to manage all business-related spend on a single integrated platform,” said Toby Williams, President and CEO of Paylocity.
About Paylocity
The acquisition of Airbase is expected to represent approximately 1% of total revenue and dilute adjusted EBITDA margin by approximately 100 basis points in fiscal 2025. Paylocity will update financial guidance in the normal course of business in their first quarter fiscal 2025 earnings release.
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Headquartered in Schaumburg, IL, Paylocity is an award-winning provider of cloud-based HR and payroll software solutions. Founded in 1997 and publicly traded since 2014, Paylocity offers an intuitive, easy-to-use product suite that helps businesses automate and streamline HR and payroll processes, attract and retain talent, and build culture and connection with their employees. Known for its unique culture and consistently recognized as one of the best places to work, Paylocity accompanies its clients on the journey to create great workplaces and help all employees achieve their best.
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Source – Globe Newswire
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