Image: © thodonal/Stock.adobe.com
Immedis focuses on payroll technology for global enterprises. The CluneTech subsidiary operates in 150 countries and 120 currencies.
Kilkenny-headquartered enterprise software player CluneTech has announced today (6 June) that it has entered into an agreement with a US company called UKG for it to acquire its subsidiary Immedis.
UKG is a multinational provider of HR, payroll and workforce management tech. Its acquisition of Immedis is expected to be completed within 60 days, subject to closing conditions.
Immedis was founded in 2016 as a subsidiary of CluneTech, the suite of tech companies that was set up in 1996 by Irish businessman Terry Clune. These days, CluneTech has operations in 21 countries across four continents. It employs more than 1,600 people globally.
As well as Immedis, the CluneTech group incorporates companies such as unicorn TransferMate, Taxback International, Taxback.com, Sprintax, Visa First and Benamic.
Immedis’ remit focuses on payroll technology for global enterprises. “We established Immedis to help large companies solve their global payroll problems. I am incredibly proud of the hard work and dedication of the Immedis team over the past seven years to achieve our goal of becoming a global leader in international payroll service and technology,” said Terry Clune, founder of Immedis and CluneTech.
If the deal goes through, UKG will aim to offer the company’s tech to its own customers. It will also offer career opportunities to Immedis staff as part of the expanded business.
“Joining UKG expands the reach and impact of our groundbreaking technology. It also presents tremendous new opportunities for the exceptional people who make Immedis special,” said Clune.
Immedis currently operates across 150 countries and 120 currencies. Demand for its tech has grown strongly in recent months. The company employs 374 people worldwide, including an Irish workforce of more than 100.
Chris Todd, CEO of UKG, said that the company had worked with Immedis closely for several years prior to the acquisition.
Qatalyst Partners acted as exclusive financial advisor, A&L Goodbody LLP acted as legal advisors and PWC acted as tax advisors to Immedis during the transaction.
10 things you need to know direct to your inbox every weekday. Sign up for the Daily Brief, Silicon Republic’s digest of essential sci-tech news.
