Paychex Acquires Social Recruiting Services Provider
A desire to combine social recruiting services, applicant tracking, and hiring solutions with its own payroll, human resource, and benefits outsourcing expertise was the driving force behind Paychex's acquisition of HR Services and its myStaffingPro software-as-a-service technology.
Paychex announced the acquisition yesterday. Paychex President and CEO Martin Mucci said: "With this acquisition we are able to combine the myStaffingPro technology and expertise with Paychex resources to strengthen our portfolio of human resource service solutions, and provide an industry-leading applicant tracking and recruiting services solution for our clients."
Launched in 1999, the myStaffingPro applicant-tracking suite provides technology aimed at simplifying the applicant work flow and hiring process. Paychex is a leader in providing payroll and human resource responsibilities for small- to medium-sized businesses. The new capabilities are expected to help drive growth for the company and expand the markets it serves.
HR Services was founded in 1993 and will now operate as a wholly owned subsidiary of Paychex. Financial terms of the transaction were not disclosed.
The article Paychex Acquires Social Recruiting Services Provider originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends Paychex. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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