Paylocity (PCTY) Completes Acquisition of Airbase Inc.

Paylocity (NASDAQ: PCTY), a leader in cloud-based HR and payroll software solutions, has completed its acquisition of Airbase Inc., a modern finance and spend management software solution that combines bill pay / accounts payable automation, expense management, corporate cards and procurement capabilities. The acquisition of Airbase represents an expansion of Paylocity’s suite and is expected to deliver incremental integrated value to HR and finance leaders in managing all of their spend on a single platform – expanding the Paylocity total addressable market beyond HCM and further into the Office of the CFO.

The integration of Airbase’s finance solutions with Paylocity’s HCM platform will allow companies to manage all payroll and non-payroll spend through a single pane of glass, allowing for real-time visibility, faster financial close, improved planning, and stronger financial controls.

“With our acquisition of Airbase, we are expanding our total addressable market to the Office of the CFO and strengthening our position as the most modern software platform in the market by enabling our nearly 40,000 clients, as well as prospects throughout our target market, to manage all business-related spend on a single integrated platform,” said Toby Williams, President and CEO of Paylocity.

The acquisition of Airbase is expected to represent approximately 1% of total revenue and dilute adjusted EBITDA margin by approximately 100 basis points in fiscal 2025. Paylocity will update financial guidance in the normal course of business in their first quarter fiscal 2025 earnings release.

You May Also Be Interested In

• Morgan Stanley Starts Amplifon SpA (AMP:IM) (AMFPF) at Overweight
• S&P Global completes sale of energy software portfolio to SLB
• UBS Upgrades Zhejiang Leapmotor Technology (9863:HK) to Buy