Add-on Acquisition • Business Services

Paychex Acquires Icon Time Systems

On January 9, 2012, Paychex acquired business services company Icon Time Systems

Acquisition Context
  • This is Paychex’s 3rd transaction in the Business Services sector.
  • This is Paychex’s 10th transaction in the United States.
  • This is Paychex’s 1st transaction in Oregon.

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M&A Deal Summary

Date January 9, 2012
Target Icon Time Systems
Sector Business Services
Buyer(s) Paychex
Deal Type Add-on Acquisition

Target Company

Icon Time Systems

Beaverton, Oregon, United States
Icon Time Systems specializes in the manufacture of time and attendance solutions for small businesses. Founded in 1989, the company keeps a singular focus on producing employee time clocks that are quick to install, simple to operate, and highly reliable, giving business owners an effective tool to manage payroll costs and optimize performance.
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Buyer Overview 1

Buyer

Paychex

Rochester, New York, United States

Category Company
Founded 1971
Sector Business Services
Employees15,600
Revenue 5.3B USD (2024)
DESCRIPTION
Paychex office in North Reading, Massachusetts.
Paychex office in North Reading, Massachusetts.

Paychex is a provider of comprehensive payroll and integrated human resource and employee benefits outsourcing solutions for small- to medium-sized businesses in the US. Paychex was founded in 1971 and is based in Rochester, New York.


Deal Context for Buyer #
Overall 10 of 22
Sector: Business Services 3 of 8
Type: Add-on Acquisition 8 of 19
State: Oregon 1 of 1
Country: United States 10 of 21
Year: 2012 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-03 ePlan Services

Denver, Colorado, United States

ePlan Services is a premier provider of outsource solutions to the U.S. defined contribution industry. its proprietary technology platform's demonstrated efficiencies power the most competitive solutions, with cost-effective services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-03 ExpenseWire

Wooster, Ohio, United States

ExpenseWire is an expense report automation solution for small and medium-sized businesses.

Buy -