Asure Software, Inc. acquired substantially all the assets of Payroll Specialties NW, Inc. from Shawn Gregg for $3.6 million.
January 02, 2017
Share
Asure Software, Inc. (NasdaqCM:ASUR) entered into an asset purchase agreement to acquire substantially all the assets of Payroll Specialties NW, Inc. from Shawn Gregg for $3.6 million on January 1, 2017. The aggregate consideration for the assets consisted of $3.01 million in cash and a subordinated promissory note in the principal amount of $0.6 million subject to adjustment. In related transactions, Asure Software acquired Personnel Management Systems, Inc. and Corporate Payroll, Inc. Asure Software funded the cash payment with proceeds from its recent public stock offering. The transaction is expected to close on January 3, 2017. The purchase is expected to be accretive to the overall P&L of Asure Software. Matt Glover and Najim Mostamand of Liolios Group, Inc. acted as investor relation advisors to Asure Software, Inc in the transaction David Weigman of Messerli & Kramer P.A. acted as legal advisor for Asure Software, Inc. Gwen Griffith of Tonkon Torp LLP acted as legal advisor for Payroll Specialties N.W., Inc.
Asure Software, Inc. (NasdaqCM:ASUR) completed the acquisition of Payroll Specialties NW, Inc. from Shawn Gregg on January 3, 2017
Asure Software, Inc. is a provider of cloud-based Human Capital Management (HCM) software solutions delivered as Software-as-a-Service (SaaS) for small and medium-sized businesses. Its HCM suite, AsureHCM, includes cloud-based Payroll, Tax Services, and Time & Attendance software and Asure Marketplace as well as human resources (HR) services ranging from HR projects to completely outsourcing payroll and HR staff. AsureMarketplace automates interactions between its HCM systems with third-party providers and extend the range of services offered to employers and their employees. It offers these services directly and indirectly through its network of reseller partners. It provides three levels of HR services: HR support, which provides an on-demand HR resource library, phone and email support for any HR issues and compliance and policy updates; Strategic HR, which provides more in-depth support for strategic HR decision making, and Total HR that offers a complete HR outsourcing solution.