Ultimate Software Enters into Binding Letter of Intent to Acquire PeopleDoc for HR Service Delivery
Summary
Upon completion of the transaction, PeopleDoc will continue operating globally as a wholly owned subsidiary of Ultimate, delivering, selling, and supporting cloud-based HR Service Delivery solutions that integrate with multiple HCM platforms to organizations based in North America and Europe.PeopleDoc serves more than 1,000 customers representing over four million end users, including companies such as Avis Budget Group, Club Med, GoDaddy, HSBC, Nestle, and Yves Rocher.The company was founded in 2007 by Jonathan Benhamou and Clément Buyse with the mission of making it easier for HR teams to elevate the level of service they provide to their employees.With Ultimate, we will be able to accelerate research and development for HR Service Delivery, including in our Paris innovation hub, to help customers bring to life the workplaces they imagine.”Following completion of the notification and consultation process with PeopleDoc’s employee-works councils, as required by local laws, Ultimate Software, PeopleDoc, and PeopleDoc’s shareholders are expected to enter into the definitive share purchase agreement contemplated by the LOI.
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