Paychex to acquire Paycor for $4.1 billion
Paychex announced a definitive agreement to acquire Paycor in an all-cash transaction valued at $4.1 billion, or $22.50 per share.
The deal is expected to close in the first half of 2025, subject to regulatory approvals.
Paycor, headquartered in Cincinnati, Ohio, serves over 49,000 clients and supports 2.7 million employees with its HCM, payroll, and talent platform designed for businesses of all sizes.
This acquisition will combine Paychex’s expertise in human capital management with Paycor’s strong upmarket presence and advanced technologies, including AI-driven HR solutions. Paychex aims to enhance its capabilities, broaden its product offerings, and create significant cost and revenue synergies.
When it comes to insurance, Paycor Insurance Agency is appointed with AmTrust Financial, Berkshire Hathaway, Park National Insurance Company, The Hartford, and Travelers. Paychex Insurance Agency is appointed with AIG, Aegon, Aetna, Aflac, Allstate, AmTrust Financial, Berkshire Hathaway, CNA Insurance, CVS Health, Chubb, Cigna, Colonial Life, Guardian Life, Highmark, ICW Group, Liberty Mutual, Markel, Meiji Yasuda, MetLife, Mutual of Omaha, Nationwide, Nippon Life, Progressive, Renaissance, Safeco, Talcott Resolution, The Hartford, Tokio Marine, Travelers, UnitedHealth Group, Unum, VSP Vision, and Zurich.
“I’m excited to welcome Paycor to the Paychex family. For over 50 years, Paychex has been committed to helping businesses succeed. This acquisition represents a significant milestone in our journey to provide best-in-class HCM solutions to businesses of all sizes. The acquisition of Paycor is highly complementary. It will enhance our capabilities upmarket, broaden our suite of AI-driven HR technology capabilities, and provide new channels for sustained long-term growth. Our customers will benefit from an expanded suite of technology and advisory solutions designed to help them address their HR challenges, and Paycor’s customers will benefit from our broad product set of HR advisory and employee solutions and from the scale and tradition of operational and service excellence that Paychex is well-known for in the marketplace.” – John Gibson, President and CEO of Paychex.
