![[Global] Apax Global Alpha to acquire Zellis](http://globalpayrollassociation.com/cdn/shop/articles/bigstock-The-Concept-Of-Business-Techn-456446117_7_1200x.jpg?v=1713941073)
On April 18, Apax Global Alpha Ltd announced that it is set to acquire payroll and HR software solutions provider Zellis UK Ltd through one of its funds, London South East reports.
Guernsey-based Apax Global Alpha is a limited partner in the Apax XI Fund which will acquire Zellis following the reaching of a definitive agreement on April 15.
Apax Global Alpha will reportedly invest approximately €36 million into Zellis.
In a statement, Apax Global Alpha said, "Operating in a structurally growing market, Zellis group has strong core business fundamentals with a high degree of recurring revenue and customer retention...The investment thesis is to back Zellis as it continues to scale and grow market share in the UK and Ireland as well as internationally."
Source: London South East
(Quote via original reporting)
On April 18, Apax Global Alpha Ltd announced that it is set to acquire payroll and HR software solutions provider Zellis UK Ltd through one of its funds, London South East reports.
Guernsey-based Apax Global Alpha is a limited partner in the Apax XI Fund which will acquire Zellis following the reaching of a definitive agreement on April 15.
Apax Global Alpha will reportedly invest approximately €36 million into Zellis.
In a statement, Apax Global Alpha said, "Operating in a structurally growing market, Zellis group has strong core business fundamentals with a high degree of recurring revenue and customer retention...The investment thesis is to back Zellis as it continues to scale and grow market share in the UK and Ireland as well as internationally."
Source: London South East
(Quote via original reporting)