Paychex, Inc., one of the leading providers of integrated human capital management solutions for small- to medium-sized businesses, recently acquired HR Outsourcing Holdings, Inc. (HROI), and all of its operating subsidiaries. HROI have been in operation since 2001 throughout 35 U.S. states. The acquisition expands Paychex's leadership position in the HR outsourcing business.
Paychex currently serves more than one-million worksite employees across its suite of HR outsourcing solutions, more than any other HR services provider dedicated to serving small and mid-sized businesses.
"This acquisition represents Paychex's continued focus on growth – both in revenue and in PEO solutions for our clients. The combination of Paychex's experience, knowledge, and resources with the experience and fast-paced growth of HROI positions us to have an even stronger presence in the industry," says Martin Mucci, Paychex president and CEO.
HROI president and chief operating officer Anthony Danon. "We share a common vision and PEO view, and Paychex has great respect for the comprehensive PEO solution we've built, for our culture, and for our team. We look forward to doing great things together."
HROI is headquartered in Charlotte, North Carolina and has approximately 140 employees who will be offered the opportunity to become Paychex employees. Terms of the acquisition were not disclosed.
SOURCE Paychex, Inc.
Edited by G. Davila