Paychex to acquire Oasis for $1.2 billion

Paychex Inc. has agreed to to acquire Oasis Outsourcing Acquisition Corp.. the nation’s largest privately owned professional employer organization, for $1.2 billion.

The acquisition is expected to advance Paychex’s leadership position in HR outsourcing, leveraging the scope of the company’s technology platform and providing new clients access to Paychex’s innovative products and technology-enabled services

“We know there’s a growing need today among small and mid-sized businesses for HR technology and outsourcing services, especially given the ever-increasing number of regulations around issues like paid family leave, health care, and anti-harassment training requirements,” said Martin Mucci, president and CEO of Paychex. “Those businesses need the integrated technology and expert support Paychex offers, expertise that grows with the addition of Oasis. This acquisition will strengthen our PEO growth strategy, gain scale for new products with our insurance carrier partners, provide a new client base to offer Paychex retirement and time and attendance products, and augment our experienced management team.”

Oasis serves more than 8,400 clients across all 50 states with its HR solutions, employee benefits, payroll administration, and risk management services. Based inFlorida, Oasis has approximately 1,100 employees.