Irish payroll firm Immedis pays $10m for US-based Expaticore

Irish corporate payroll firm Immedis is acquiring US international payroll firm Expaticore for $10m.

The deal comes after two years of discussion between the firms.

Immedis was spun out of Irish financial, tax and travel firm Taxback Group in 1996 to focus on corporate payroll solutions.

The acquisition is seen as a part of the firm’s growth ambitions and is expected to create as many as 150 jobs in Ireland over the next three years.

Expaticore offers payroll program design, implementation and administration solutions for companies and counts 35 staff in its New Jersey office serving 60 countries.

Immedis currently employs 1,100 staff worldwide and counts Airbus, ESB International and Lifes2Good among its clients.

The firm’s executive director Ruairi Kelleher commented: “We see real potential for the services we offer in the US market and are delighted to welcome our colleagues at Expaticore on board.

“There are clear synergies between the two businesses including our global payroll technology and tax expertise combined with their knowledge on international payroll.

“There is little doubt that this level of expertise along with their talented team and network in the US will be extremely beneficial to Immedis and to our clients.”

Expaticore’s founder and president David Leboff said: “The integration of both companies is certainly the most important development in the global payroll industry in years.

“The research and investment Immedis has put into developing their global payroll & mobility tax platform will have a significant impact on providing true transparency for clients seeking information in real time concerning their payrolls, employees and tax obligations.”

Copyright © 2017 FINTECH GLOBAL

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