Deel Acquires PaySpace to Revolutionize Global Payroll, HR Services

Editorial Desk
By Editorial Desk 3 Min Read

Deel, a global HR company, has announced the acquisition of PaySpace, an African-based payroll and HR solution company.

The acquisition marks a pivotal moment for Deel, enhancing its capabilities and expanding its global reach.

Deel’s latest acquisition of PaySpace, a seasoned player in the payroll technology industry with over 20 years of experience, brings a wealth of expertise and a diverse customer base of over 14,000 clients across 44 countries.

Notable clients include renowned multinational companies like Heineken, Coca-Cola Beverages, and Puma Sports SA.

With this acquisition, Deel solidifies its position as the first global payroll and Employer of Record (EOR) provider with a comprehensive payroll engine localized in 50 countries.

This integration allows Deel to offer a seamless interface for managing global teams, ensuring efficiency, compliance, and control for companies worldwide.

The acquisition not only enhances Deel’s service offerings but also accelerates its goal of serving 100 countries with native payroll engines in the next four years.

Alex Bouaziz, Deel’s co-founder and CEO, emphasized the importance of global payroll accuracy and reliability. He highlighted the strategic advantage of combining PaySpace’s expertise in Africa and the Middle East with Deel’s existing capabilities, enabling customers to expand their businesses globally with confidence.

PaySpace’s innovative cloud-native technology streamlines localization processes, enabling rapid expansion into new markets.

This aligns with Deel’s commitment to revolutionize the HR and payroll industry by automating manual processes and ensuring compliance with diverse regulatory frameworks.

Clyde van Wyk, Director of PaySpace, expressed enthusiasm about the acquisition, emphasizing the shared vision of driving industry disruption and delivering unparalleled automation, flexibility, and scalability to customers.

In addition to the acquisition news, Deel announced a significant milestone of surpassing $500 million in annual recurring revenue (ARR) organically, showcasing its rapid growth and financial stability.

With a global team spanning over 100 countries and a comprehensive suite of HR and payroll services, Deel continues to redefine the landscape of global workforce management.

Deel’s evolution into a comprehensive HR and payroll solution underscores its commitment to simplifying global operations for businesses of all sizes.

With a strong foundation in place and a clear vision for the future, Deel is poised to set new standards in the industry and empower organizations to thrive in a rapidly evolving global marketplace.

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