Wells Fargo has agreed to sell the assets of its Business Payroll Services unit to Asure Software, a US-based provider of human capital (HCM) and workplace management software.
According to Pymnts, Asure will acquire Wells Fargo Business Payroll Services’ Evolution HCM customer portfolio for an undisclosed sum and Asure will take over the provision of payroll services to its business customers. Evolution HCM handles payroll, HR and tax management services.
Asure Software’s chief executive Pat Goepel said in a statement: "Wells Fargo Business Payroll Services’ customers who use the Evolution payroll platform will continue [to] experience the same security and service they have come to expect, along with the added opportunity to benefit from Asure’s full suite of innovative products and services."
Asure said it expects the customer transition to be complete by 2 July this year.
In a separate announcement, the company also said it was taking over Austin HR, another HCM company that offers payroll, employee benefit, recruitment, training and HR consulting services.
"Much like our other strategic ‘tuck-in’ acquisitions, there is a natural synergy between Asure Software and Austin HR, which offers a completely outsourced HR department," Goepel said. "Integrating Austin HR’s consulting services, combined with our time and labour and workspace management solutions, provides a new opportunity for their clients to experience the complete benefits of Asure Software’s full suite of solutions.”
Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.
Wells Fargo has agreed to sell the assets of its Business Payroll Services unit to Asure Software, a US-based provider of human capital (HCM) and workplace management software.
According to Pymnts, Asure will acquire Wells Fargo Business Payroll Services’ Evolution HCM customer portfolio for an undisclosed sum and Asure will take over the provision of payroll services to its business customers. Evolution HCM handles payroll, HR and tax management services.
Asure Software’s chief executive Pat Goepel said in a statement: "Wells Fargo Business Payroll Services’ customers who use the Evolution payroll platform will continue [to] experience the same security and service they have come to expect, along with the added opportunity to benefit from Asure’s full suite of innovative products and services."
Asure said it expects the customer transition to be complete by 2 July this year.
In a separate announcement, the company also said it was taking over Austin HR, another HCM company that offers payroll, employee benefit, recruitment, training and HR consulting services.
"Much like our other strategic ‘tuck-in’ acquisitions, there is a natural synergy between Asure Software and Austin HR, which offers a completely outsourced HR department," Goepel said. "Integrating Austin HR’s consulting services, combined with our time and labour and workspace management solutions, provides a new opportunity for their clients to experience the complete benefits of Asure Software’s full suite of solutions.”
Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.
