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Paychexhas signed an agreement to buy Oasis Outsourcing, a privately held professional employer organization for $1.2 billion in cash. Oasis has 8,400 clients using HR applications, employee benefits, payroll administration and risk management services.
The deal is expected to close before Paychex ends its first quarter on February 28.
In a prepared statement, Paychex CEO Martin Muccisaid, “This acquisition will strengthen our PEO growth strategy, gain scale for new products with our insurance carrier partners, provide a new client base to offer Paychex retirement and time and attendance products, and augment our experienced management team.”
Oasis markets HR products for 16 different industries. These include architecture, banking, country clubs, education, financial services and franchisees.
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
