Tue, 04 Jun 2024 | BUSINESS SALE
HR and payroll software provider Ciphr has acquired a Southampton-based software company as it seeks to bolster its payroll activities. Ciphr, which is backed by ECI, has acquired Shape Payroll, a cloud-based payroll platform that is used by around 1,500 UK businesses.
The deal reflects Ciphr’s efforts to strengthen its payroll offering and represents a significant ramp-up of its activities in this area. The company already processes more than £2 billion in payroll and BACS salary payments for clients each year.
Ciphr Chief Executive Sion Lewis described Shape Payroll as “a cutting-edge, API-first payroll solution that has a great reputation in the payroll sector, with applications that are extensive and well-suited to medium and large-sized organisations, like Ciphr’s customers.”
Lewis added that building out its payroll business was “a key focus” for the company this year, forming part of its longer-term growth strategy, and said that Shape was "the perfect fit to take our payroll tech to the next level."
Ciphr’s Managing Director of payroll, Julie Lally, added that Shape is "a pioneering payroll technology company that is renowned for its innovative, API-first payroll solution and commitment to payroll technology excellence.”
Lally continued that the company has “a proven track record of simplifying payroll operations, as it is implemented at pace and integrates with other systems with ease.”
She added that the acquisition “underscores Ciphr's commitment to innovation, customer satisfaction, and technological excellence, as we continue to empower businesses with the tools they need to thrive in an ever-evolving digital landscape.”
Shape Payroll co-founder Alex Bartlett said that the company was founded "with a vision to build the most flexible payroll software possible, allowing integration at any level via our Open API and backing that up with an intuitive user interface and fantastic customer support.”
Bartlett added that joining Ciphr would enable the company “to help customers we couldn’t have reached before.”
Read about M&A trends in the professional services industry
With an established reputation, the vendor is exclusively interested in partnering with a client-centric practice that values professionalism. With a solid foundation built on trust and reliability, this firm boasts a loyal clientele that could seaml...
Well-established firm coming to the market with a view to finding a professional firm that will preserve the internal culture and retain staff.
This client comes to the market for the first time with a view to finding a friendly and professional firm that understands the value in retaining quality team members and will put them at the forefront of the deal.
06
|
Sep
|
Surrey Victorian country manor hotel on the market for £8m | COMMERCIAL PROPERTY
Stanhill Court Hotel, a Victorian Country Manor House hotel ...
06
|
Sep
|
Livingstone-based civil engineering firm falls into administration | ADMINISTRATION
Glenevin Limited, a Livingstone-based civil engineering firm...
06
|
Sep
|
Worcestershire accountancy acquires Cannock-based counterpart | BUSINESS SALE
A full-service accountancy and advisory firm based in Worces...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.