Paychex Inc. has acquired North Carolina-based HR Outsourcing Holdings Inc., the company announced Monday. Financial details of the transaction were not disclosed.
HROI is a human resource firm that supports clients in 35 states. All 140 employees of HROI will have the opportunity to be Paychex employees.
“We are excited about becoming part of Paychex because it presents many advantages,” said Anthony Danon, president and chief operating officer of HROI, in a statement.
“With the support, scale, and resources of Paychex, we can accelerate the growth of our combined HR solutions and enhance our offerings to best serve our current and future clients,” Danon said. “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.”
Today Paychex serves over 1 million employees with its HR offerings. The deal expands that offering suite, officials said.
“This acquisition represents Paychex’s continued focus on growth, both in revenue and in PEO solutions for our clients,” said Martin Mucci, Paychex president and CEO in a statement. “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. We are excited about the HROI team joining the Paychex family.”
Paychex employs some 4,400 people in Rochester and nearly 14,000 in total.
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