TriNet Agrees to Acquire Gevity HR (GVHR) for $4/Share
TriNet today announced the signing of a definitive agreement to acquire Gevity HR, Inc. (NASDAQ: GVHR) for $4.00 per share in an all cash transaction valued at approximately $98 million. The Boards of Directors of TriNet and Gevity unanimously approved the agreement.
With this transaction, TriNet will become one of the leading HR outsourcing companies serving small businesses in the United States, with more than 8,000 customers employing more than 130,000 people nationwide. The acquisition advances TriNet's plans to be a nationwide HR provider with the reach, technology, and industry expertise to serve customers everywhere. The new company will be a preeminent HR outsourcing leader in California and Florida with strong competitive positions in Texas, New York, New Jersey, New England and Colorado.
With this transaction, TriNet will become one of the leading HR outsourcing companies serving small businesses in the United States, with more than 8,000 customers employing more than 130,000 people nationwide. The acquisition advances TriNet's plans to be a nationwide HR provider with the reach, technology, and industry expertise to serve customers everywhere. The new company will be a preeminent HR outsourcing leader in California and Florida with strong competitive positions in Texas, New York, New Jersey, New England and Colorado.
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