Immedis focuses on payroll technology for global enterprises. The CluneTech subsidiary operates in 150 countries and 120 currencies.
Kilkenny-headquartered enterprise software player CluneTech has today (June 6) announced that it has entered into an agreement with US company UKG to acquire its subsidiary Immedis.
UKG is a multinational provider of HR, payroll and workforce management technologies. The Immedis acquisition is expected to close within 60 days, subject to closing conditions.
Immedis was founded in 2016 as a subsidiary of CluneTech, a suite of technology companies founded in 1996 by Irish businessman Terry Clune. These days, CluneTech operates in 21 countries on four continents. Employs more than 1,600 people worldwide.
As well as Immedis, the CluneTech group includes companies such as unicorn TransferMate, Taxback International, Taxback.com, Sprintax, Visa First and Benamic.
Immedis’ mandate focuses on payroll technology for global enterprises. “We founded Immedis to help large companies solve their global payroll problems. I am incredibly proud of the hard work and dedication of the Immedis team over the past seven years to achieve our goal of becoming a global leader in payroll service and technology,” said Terry Clune, founder of Immedis and CluneTech.
If the deal goes through, UKG will aim to offer the company’s technology to its customers. It will also offer career opportunities to Immedis staff as part of the expanded business.
“Joining UKG extends the reach and impact of our breakthrough technology. It also provides tremendous new opportunities for the exceptional people who make Immedis special,” said Clune.
Immedis currently operates in 150 countries and 120 currencies. Demand for its technology has skyrocketed in recent months. The company employs 374 people worldwide, including a workforce of over 100 in Ireland.
UKG chief executive Chris Todd said the company had worked closely with Immedis for several years prior to the acquisition.
Qatalyst Partners acted as exclusive financial advisor, A&L Goodbody LLP acted as legal advisor and PWC acted as tax advisor to Immedis throughout the transaction.
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