Vensure acquires Colombian BPO and payroll provider Contrate
ARIZONA, UNITED STATES — Human resources, managed services, and business process outsourcing (BPO) firm Vensure Employer Solutions (Vensure) has acquired Contrate.
Contrate, founded in 2006 and headquartered in Medellin, Colombia, has become a key player in providing business process outsourcing (BPO), payroll, and talent recruitment services across several sectors, including mining, construction, and retail.
Enhancing Vensure’s payroll processing capabilities in Colombia
The acquisition of Contrate further solidifies Vensure’s presence in Medellin, where its nearshore talent and core BPO business unit, Solvo, is based. Through this new alignment, Contrate will immediately double its managed payroll services by assuming Solvo’s payroll processing operations.
“Contrate is our first payroll processor in Colombia, which expands our global payroll initiative to 19 countries and counting,” stated Alex Campos, CEO of Vensure Employer Solutions.
“With this transaction, we continue to advance our capacity for strategically delivering in-country payroll processing services within the United States and beyond.”
Carlos Alberto Bustamante Henao, Managing Member of the new entity, emphasized the significance of the acquisition, stating, “With clients’ increasing focus on efficiency in a changing, competitive environment, we aim to provide solutions to help them succeed. Vensure will give us the scale and advanced technologies to accomplish that mission.”
Vensure’s 73rd acquisition since 2018
This strategic move marks Vensure’s 73rd acquisition in six years and expands its presence in the South American market.
Among its recent acquisitions are health firm Ault International Medical Management (AIMM), human resources outsourcing firm MarathonHR, resource services firm Canadian Payroll Services, and HR solutions provider Resource Management Inc. (RMI).
Founded in 2004 in Arizona, Vensure provides a comprehensive portfolio of solutions, including HR/HCM technology, managed services, and global BPO.
The company and its service providers collectively serve over 141,000 businesses and process over $158 billion in annual payroll.
