PrimePay, a national payroll, human capital management, and benefit services company, has acquired SyncHR, an all-in-one HR, payroll and benefits management software provider purposely-built for mid-sized enterprises. Earlier this month, PrimePay received a strategic investment from Aquiline Capital Partners, a private investment firm based in New York and London.
SyncHR provides real-time insights into staffing, budgets and plans on one centralized system. This acquisition combines two HR service providers with full-suite people management software and services, creating a HCM offering for emerging and mid-enterprise firms. As part of the transaction, Pam Glick, currently CEO of SyncHR, will assume her new role as the chief marketing officer and will be primarily focused on go-to-market strategy, product and innovation, and customer success initiatives.
“Pam and the SyncHR team have built an incredible product that is leading the charge in modernizing and revolutionizing HR operations in the constantly evolving HCM landscape,” said John LaMancuso, CEO of PrimePay. “This acquisition expands and elevates our capabilities to meet the unique challenges facing mid-enterprise companies. With our offering, we are creating a new category that will empower mid-enterprise organizations with a level of sophistication in their HCM capabilities that rivals that of the largest corporations, and is configurable to their specific needs and opportunities.”
“The unity of PrimePay and SyncHR accelerates the innovation we’re bringing to market to modernize HCM by positioning it as a strategic business function that directly contributes to our clients’ growth,” said Glick. “Aquiline’s deep sector expertise and ample financial resources will also play a key role in positioning the combined company to enable its customers to excel in this era that is defined by a demand for agility and data-driven insights.”