Multibillion dollar global compliance and payroll platform Deel has made a $119 million offer for ASX-listed PayGroup.
Multibillion-dollar global compliance and payroll platform Deel has made a $119 million offer for ASX-listed payroll and human capital management solutions business PayGroup.
“The value offered is testament to the strength of the PayGroup business we have grown over the last four years since listing on the ASX in 2018,” PayGroup chief executive Mark Samlal said. Despite only launching in 2019, the business has already surpassed $100 million in annual recurring revenue, fuelled by the remote working boom. It was valued at $US5.5 billion in a Series D funding round, but in May Axios reported that it had raised another $US50 million at a $US12 billion valuation.
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