Paylocity, a pioneer in cloud-based HR and payroll software, has executed a definitive agreement to acquire Airbase, a contemporary provider of finance and expenditure management software. Paylocity will be able to incorporate Airbase's solutions, including bill pay, accounts payable automation, expense management, and corporate cards, into its current Human Capital Management (HCM) platform as a result of the acquisition. The objective of this unified approach is to provide companies with a comprehensive solution that addresses both HR and finance operations.
Toby Williams, President and CEO of Paylocity, expressed enthusiasm about the acquisition, stating, "Airbase represents an exciting opportunity to expand our relationship with our nearly 40,000 clients to offer an integrated software platform for running their business operations, while also offering a very compelling value proposition for prospects across our target market." Founded in 2017 and headquartered in San Francisco, Airbase caters to companies with 100 to 5,000 employees and serves over 500 clients globally. Its spend management platform focuses on automation and enhanced control for finance teams. The acquisition aligns with Paylocity's goal of delivering a differentiated experience to its clients by offering a fully integrated platform across operational spend and HCM.
