Global payroll and HR platform Deel has acquired PaySpace, a provider of cloud-native payroll and HR software solutions, for an undisclosed amount. This corporate acquisition marks Deel's largest to date in 2024, significantly expanding its technological infrastructure and market reach.
PaySpace specializes in scalable, configurable, and highly secure cloud-native payroll and HR functionality with built-in compliance. Its solutions are designed for organizations of all sizes and industries, offering both self-serve payroll and outsourced options. PaySpace has established a strong presence across more than 40 African countries, the United Kingdom, Brazil, and the Middle East, serving over 15,000 customers who process payroll for more than 50,000 employees.
This acquisition is a strategic move for Deel, aligning with its objective to become a comprehensive global payroll and HR solution. PaySpace's proprietary payroll technology will be integrated as Deel’s exclusive payroll calculation engine. This integration is expected to enhance Deel’s operational efficiency and ensure robust compliance across diverse international markets, leveraging PaySpace’s deep expertise and established geographical footprint.
The combined entity aims to deliver an even more unified and streamlined platform for managing global payroll and HR. By incorporating PaySpace's proven technology and extensive compliance framework, Deel intends to solidify its position as a one-stop-shop for international workforce management, offering an advanced and efficient solution for businesses operating worldwide.