Paychex and Paycor FAQs

What Does This Acquisition Mean for the HCM Industry?

Paychex’s addition of Paycor to the Paychex portfolio is highly complementary. It will create one of the most comprehensive suites of human capital management (HCM) solutions in the industry for organizations of all sizes – from start-ups to large, complex enterprises. The addition of Paycor will extend Paychex’s current upmarket position and expand its suite of AI-driven HR technology and advisory solutions.

What Will Be the Primary Benefits to Both Companies’ Customers?

Paycor’s customers will benefit from Paychex’s broad set of HR advisory and employee solutions, as well as from the scale and tradition of operational and service excellence that Paychex is well-known for in the marketplace.

Paycor’s set of capabilities and assets will complement Paychex’s leadership position down market, and extend Paychex current position in the upmarket, enabling an expanded suite of technology and advisory solutions designed to help businesses of all sizes address their HR challenges.

When Is the Deal Expected To Close?

The deal is expected to close in the first half of calendar year 2025, subject to satisfaction of regulatory approvals and other customary closing conditions. On February 27, Paychex announced the expiration of the required HSR waiting period for the company’s acquisition of Paycor. Until the deal closes, Paychex and Paycor are operating as two independent, legally separate entities. After closing, Paycor will continue operating as a standalone business unit of Paychex, Inc.

Will Customers Be Forced To Migrate to a Different Platform?

No. Paycor customers will not be forced to migrate off the Paycor platform or see changes to their service team relationships. The acquisition unifies two open platforms, each purpose-built for distinct market segments. Like SurePayroll today, Paychex expects Paycor to complement and expand Paychex’s current technology capabilities to serve customers of all types and sizes. Together, the platforms create a comprehensive suite of opportunities that will meet the needs of all customer segments.

How Will Paychex and Paycor Work Together To Support Their Respective Strategic Partner Channels?

Until the acquisition is finalized, the companies continue to operate separately. The same service and partnership arrangements that are in place today will remain.

Paycor and Paychex remain committed to fostering strong relationships with strategic partners in the same manner both companies have for decades. Both companies have active partner programs that serve a variety of strategic channels, from CPA’s, Brokers, Banks, and a variety of other strategic advisors to small- and mid-sized businesses. We are committed to honoring current commitments to all partners, as well as continuing to help them retain and grow their existing customer relationships and businesses. The breadth of offerings across the Paychex and Paycor platform will be even more attractive to strategic partners’ clients by helping them solve a wide array of HR needs. Both companies view this as an opportunity to build even stronger partnerships and are committed to designing a combined partner model to help all partners thrive.

What Will the Acquisition Mean for Paycor and Cincinnati?

Paychex has a history of acquiring businesses and maintaining their strong reputation and brand, such as in the case of SurePayroll. It is common in the industry to have products branded differently for different segments of the marketplace. Paychex will deploy a similar strategy with Paycor, enabling Paychex to leverage the strength of both companies’ strong heritage and brand in the market. Paycor will remain headquartered in Cincinnati, and Cincinnati will become a strategic headquarters location for Paychex. The company expects to grow and give back to Cincinnati like it does in the other strategic locations where Paychex has a presence today.

Who Will Lead Paycor Post Close?

Two executives from Paycor will be joining the Paychex executive leadership team post-closing. Adam Ante, currently Chief Financial Officer at Paycor, will lead the Paycor business unit, and Ryan Bergstrom, currently Chief Product and Technology Officer, will become Chief Product Officer of Paychex. Both will report to John Gibson, Paychex President and CEO, and become Members of the Paychex Executive Committee. Current Paycor CEO Raul Villar will also serve as a strategic advisor to John Gibson, Paychex President and CEO, to ensure a smooth transition and long-term growth.