News: Deel acquires PaySpace to bolster global expansion


Deel acquires PaySpace to bolster global expansion

With the acquisition of PaySpace, Deel plans to expand its comprehensive HR payroll system globally, including the Middle East and Asia-Pacific.
Deel acquires PaySpace to bolster global expansion

Deel, a global payroll and HR solutions provider, today announced the acquisition of Africa-based payroll and HR company PaySpace. This strategic step not only solidifies Deel's leadership status but also adds significant strength to its growing range of services.

In a significant milestone, Deel proudly announces surpassing $500 million in annual recurring revenue within an impressive five-year span since its inception. PaySpace, boasting over two decades of payroll technology prowess, will extend Deel's global influence, with a strong foothold in 44 countries across Europe, Latin America, the Middle East, and Africa for more than 14,000 customers, including prominent names like Heineken, Coca-Cola Beverages, and Puma Sports.

This strategic move positions Deel as the first global payroll and Employer of Record (EOR) with a fully localised payroll engine in 50 countries. The acquisition aligns seamlessly with Deel's ambitious four-year plan to serve 100 countries with native payroll engines, emphasising its commitment to both the Middle East and Asia-Pacific markets.

Also read: Enabling people to gather knowledge at speed
How organisations can thrive in the era of borderless hiring?

Alex Bouaziz, Deel's co-founder and CEO, highlighted the strategic importance of this acquisition, stating, "Our long-term vision is to be the most comprehensive payroll system in the world, and the Middle East and Asia-Pacific are crucial parts of that vision."

Deel also announced acquiring PayGroup, a leading APAC payroll provider in 2022 and  Zavvy, a people-enablement platform in the last week. All these acquisitions will solidify Deel’s position as a powerhouse in the global HR and payroll landscape.

Read full story

Topics: Business, #HRIndustry

Did you find this story helpful?



How do you envision AI transforming your work?

Your opinion matters: Tell us how we're doing this quarter!

Selected Score :