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M&A Deal Summary

PrimePay Acquires SyncHR

On April 30, 2021, PrimePay acquired internet software and services company SyncHR from Benu

Acquisition Highlights
  • This is PrimePay’s 2nd transaction in the Internet Software and Services sector.
  • This is PrimePay’s 4th transaction in the United States.
  • This is PrimePay’s 1st transaction in Colorado.

M&A Deal Summary
Date 2021-04-30
Target SyncHR
Sector Internet Software and Services
Buyer(s) PrimePay
Sellers(s) Benu
Deal Type Divestiture

Target

SyncHR

Denver, Colorado, United States
SyncHR is a cloud-native Human Capital Management (HCM) software, streamlining HR, benefits, and payroll management for mid-enterprise businesses. SyncHR is a team-oriented application, meaning it is utilized by the entire business, not only HR. SyncHR's software platform is built on a position-based architecture to help businesses plan, operationalize, and measure results better. SyncHR was formed in 2010 and is based in Denver, Colorado.

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Buyer(S) 1

Buyer

PrimePay

West Chester, Pennsylvania, United States
Category Company
Founded 1986
Sector Business Services
DESCRIPTION

PrimePay is a payroll service and human capital management (HCM) provider, offering solutions that empower businesses to focus on what matters most. The company delivers highly configurable HR and payroll solutions designed to create efficiencies and to maximize compliance for our clients across our nationwide presence. PrimePay was formed in 1986 and is based in West Chester, Pennsylvania.

DEAL STATS #
Overall 4 of 4
Sector: Internet Software and Services M&A 2 of 2
Type: Divestiture M&A Deals 1 of 1
State: Colorado M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-09 Interlogic Outsourcing

Elkhart, Indiana, United States

Interlogic Outsourcing, Inc. provides online payroll and human resources services to its clients across the nation. Interlogic Outsourcing was founded in 1987 and is based in Elkhart, Indiana.

Buy -

Seller(S) 1

SELLER

Benu

San Mateo, California, United States
Category Company
Founded 2000
Sector Internet Software and Services
DESCRIPTION

Benu. is a provider of workforce management, benefits, payroll, and private healthcare exchange solutions to employers. Benu was founded in 2000 and is based in San Mateo, California.

DEAL STATS #
Overall 2 of 2
Sector: Internet Software and Services M&A 2 of 2
Type: Divestiture M&A Deals 2 of 2
State: Colorado M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-18 ClearBenefits

Santa Clara, California, United States

ClearBenefits, Inc. is a cloud-based benefits administration software platform. It takes the complex and makes it simple. Our platform gives employers access to a reliable central source of employee benefits data, events and activities to manage, communicate, and administer their entire employee benefits program.

Sell -
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