M&A Deal Summary

IRIS Acquires myPay Solutions

On October 26, 2022, IRIS acquired information technology company myPay Solutions from Thomson Reuters

Acquisition Highlights
  • This is IRIS’s 2nd transaction in the Information Technology sector.
  • This is IRIS’s 2nd transaction in the United States.
  • This is IRIS’s 1st transaction in Michigan.

M&A Deal Summary

Date 2022-10-26
Target myPay Solutions
Sector Information Technology
Buyer(s) IRIS
Sellers(s) Thomson Reuters
Deal Type Divestiture

Target

myPay Solutions

Ann Arbor, Michigan, United States
myPay Solutions is an online payroll processing service designed to empower CPAs. The company provides comprehensive outsourced payroll and associated banking and tax services via CPA firms to small and medium-sized businesses across all 50 states in the United States. myPay Solutions is based in Ann Arbor, Michigan.

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Buyer(S) 1

Buyer

IRIS

Slough, United Kingdom

Category Company
Founded 1978
Sector Software
DESCRIPTION

IRIS is a private software house supplying business management solutions to over 60,000 customers, from start-ups to large organisations. IRIS was founded in 1978 and is based in Slough, United Kingdom.


DEAL STATS #
Overall 22 of 25
Sector (Information Technology) 2 of 2
Type (Divestiture) 1 of 1
State (Michigan) 1 of 1
Country (United States) 2 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-30 AccountantsWorld

Hauppauge, New York, United States

AccountantsWorld offers a complete suite of cloud-based solutions for thousands of CPA firms including accounting, payroll and document management, client portals, practice management, and a website builder. AccountantsWorld was founded in 2003 and is based in Hauppauge, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-28 Apex HCM

Roswell, Georgia, United States

Apex HCM is a provider of cloud-based Human Capital Management technology. Apex's comprehensive suite of products and services includes payroll, payroll tax, human resources, time and attendance, workers' compensation, payroll debit cards and other business management tools normally reserved for large enterprises. Apex's cutting-edge cloud-based technology allows its customers to compete effectively feature-for -feature with larger established firms, while dramatically improving their workforce productivity. Apex HCM was founded in 2008 and is based in Roswell, Georgia.

Buy -

Seller(S) 1

SELLER

Thomson Reuters

Toronto, Ontario, Canada

Category Company
Founded 1851
Sector Information Services
Employees25,600
Revenue 6.8B USD (2023)
DESCRIPTION
Thomson Reuters' office in Eagan, Minnesota.
Thomson Reuters' office in Eagan, Minnesota.

Thomson Reuters is an information source for businesses and professionals. Thomson Reuters delivers information to decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs people and operates in over 100 countries. Thomson Reuters was originally incorporated in 1851 and is headquartered in Toronto, Ontario.


DEAL STATS #
Overall 29 of 34
Sector (Information Technology) 4 of 5
Type (Divestiture) 27 of 32
State (Michigan) 2 of 2
Country (United States) 19 of 22
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-19 Pondera Solutions

Folsom, California, United States

Pondera Solutions is a software solution for combatting fraud, waste, and abuse in large government programs. Pondera Solutions leverages advanced predictive algorithms and the power of cloud computing. Their core solution, Fraud Detection as a Service (FDaaS®), helps clients to detect and analyze claims, payments, and program participants, quickly sifting through massive data sets to identify and alert agencies to problems that require follow-up investigation. Pondera Solutions was founded in 2011 and is based in Folsom, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-11 SurePrep

Irvine, California, United States

SurePrep is a provider of tax automation software and software-powered services to the professional tax return preparation market. SurePrep was founded in 2002 and is based in Irvine, California.

Buy $500M