UKG acquires Immedis, to launch new payroll service
LOWELL & WESTON, UNITED STATES — UKG, a provider of HR, payroll, and workforce management solutions, has agreed to acquire Immedis, a global payroll provider currently supporting over 160 countries.
Based in Ireland, Immedis, a CluneTech subsidiary, has built a significant multinational customer base, supported by 370 employees worldwide. UKG says demand for Immedis’ payroll platform has increased, and the acquisition reflects an increased valuation from its last investment round.
According to the data available on Crunchbase, Immedis has secured funding of $78.3 million over two rounds. They raised their most recent funding in December 2020.
“Even in 2023, most companies still lack a single, reliable, and accurate way to understand how much they’re paying employees worldwide,” said Hugo Sarrazin, chief product and technology officer at UKG.
The acquisition with an undisclosed amount will result in the launch of UKG One View later this year. Developed collaboratively by UKG and Immedis, One View aims to overhaul the traditionally fragmented global payroll model by integrating the strengths of both companies. The platform promises a singular “schedule to fund in one” experience combining an AI-powered perpetual validation engine and continuous workforce management integration.
Post-acquisition, UKG will immediately begin offering fully managed, multi-country payroll services to businesses headquartered in the U.S. and Canada. This will support companies processing payroll outside North America or those wanting a unified, global view of their payroll, even with existing preferred payroll providers.
Terry Clune, Founder of Immedis and CluneTech, expressed excitement over the expanded reach of their groundbreaking technology, adding that it presents new opportunities for their team.
“Joining UKG expands the reach and impact of our ground-breaking technology. It also presents tremendous new opportunities for the exceptional people who make Immedis special. I am extremely proud of our incredible team, and I’m delighted that each of our 370 Immedis staff will gain from this acquisition,” said Irish entrepreneur Terry Clune, founder of Immedis and CluneTech.
CluneTech comprises a group of software technology companies that offer simplified solutions for global business needs. CluneTech, headquartered in Ireland, has a global workforce of over 1,600 employees.
