In a move that could redefine the landscape of global Human Resources management, Deel, the all-in-one HR solution for international teams, has announced its acquisition of PaySpace, a cloud-native payroll and HR platform. The deal valued at an undisclosed sum believed to be around $100 million, marks a strategic maneuver by Deel to solidify its position as a leader in the increasingly competitive field of global HR services.
Founded by Alex Bouaziz, Deel has rapidly gained recognition for its comprehensive suite of tools aimed at simplifying the complexities of managing international workforces. From streamlining onboarding processes to ensuring compliance with local regulations, Deel has emerged as the go-to solution for companies navigating the intricacies of global expansion.
With over 130 country entities under its belt, Deel’s acquisition of PaySpace represents a significant expansion of its capabilities. PaySpace, known for its cloud-native architecture and robust compliance features has established itself as a key player in the payroll and HR space, particularly in African and Middle Eastern markets.
“We are thrilled to welcome PaySpace into the Deel family,” commented Alex Bouaziz, Co-founder and CEO of Deel. “This acquisition not only strengthens our position as a global HR powerhouse but also reinforces our commitment to providing our customers with best-in-class solutions for managing their international teams.”
“We see tremendous opportunities for innovation and growth as we join forces with Deel,” remarked a spokesperson from PaySpace. “Together, we will be able to deliver a truly integrated solution that addresses the evolving needs of multinational organizations.”
The acquisition comes at a time of rapid expansion for Deel, which has seen a surge in demand for its services as companies increasingly embrace remote work and global talent pools. With the addition of PaySpace’s capabilities, Deel is well-positioned to capitalize on this trend and cement its status as the premier HR solution for global teams.
In addition to its existing presence in over 130 countries, Deel is set to leverage PaySpace’s extensive footprint in African and Middle Eastern markets. With plans for further expansion into the United Kingdom and Brazil on the horizon, the combined entity is poised to become a dominant force in the global HR landscape.
