Talent management software giant, ELMO has announced that it has acquired Pivot Remesys Group. This SaaS is just another loop in the belt that is ELMO's secession of takeovers. Pivot Remesys Group is a cloud-based remuneration management firm and it was bought by ELMO for $8.8 million.
This comes on the heels of another buy-in by ELMO - Sky Payroll, the SaaS-based payroll solutions provider was taken over for around $1.8 million.
ELMO's plans are to extend its business in New Zealand via Pivot Software, as the company is HQ-ed in Christchurch and also has operations in Sydney. Pivot was founded in 2016, when the company acquired Remesys, a Sydney-based remuneration management solution vendor, spreading its reach across the Tasmanian region. Together, the combined partnership has a solid customer base of around 120 firms, (including names such as Newscorp, Allianz, IAG New Zealand, and Westpac NZ) and has generated revenues worth $4.5 million in 2017.
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