Paychex to buy out Oasis Outsourcing for US$1.2 billion
Paychex, Inc. is set to acquire Florida-based Oasis Outsourcing Acquisition Corporation for US$1.2 billion in cash. Its multiple revenue streams, cost synergies, and expansion of professional employer organization (PEO) sales and human resource (HR) outsourcing and technology-enabled services, are the key assets driving the purchase. According to Zacks, an investment research firm, the purchase could boost Paychex’s total service revenues, which make up 98% of total revenues, by up to 9% year on year, in the first quarter of 2019. Paychex is a provider of integrated human capital management solutions for payroll, HR, retirement and insurance services. Oasis is one of the largest privately-owned PEOs in the United States and a leading provider of HR outsourcing services.