Paylocity Holding Corporation is a cloud-based human capital management (HCM) software company founded in 1997 and headquartered in Schaumburg, Illinois. It provides payroll, benefits, talent management, and time and labor tracking solutions to businesses.
According to reports, Paylocity has announced plans to acquire Airbase, a corporate spend startup, for $325 million USD to enhance its offerings and provide a more comprehensive suite of financial management tools.
The report further mentions that the deal is subject to regulatory approval and is expected to close in the next 30-60 days, and it is being funded by borrowings under Paylocity’s revolving credit facility. The acquisition will create a significant opportunity to provide companies with a differentiated and unified experience across HCM and finance solutions.
Airbase Inc. is a cloud-based spend management software solution company founded in 2017 and headquartered in San Francisco, designed for businesses to manage their finances, including expenses, accounts payable, and company cards.
