Asure Software, Inc. acquired TelePayroll, Inc. from a family for $12.1 million.
January 01, 2018
Share
Asure Software, Inc. (NasdaqCM:ASUR) acquired TelePayroll, Inc. from a family for $12.1 million on January 2, 2018. The aggregate consideration for transaction consists of $9 million in cash, Asure issue 0.09 million common shares and a subordinated promissory note in the principal amount of $1.8 million subject to adjustment as provided in the TelePayroll stock purchase agreement. TelePayroll Note bears interest at an annual rate of 2.0% and matures on January 1, 2020. The entire unpaid principal and all accrued interest under the TelePayroll Note is payable at maturity. Asure Software funded the cash portion with cash on hand. Pat Goepel, Chief Executive Officer of Asure Software, will be the Chief Executive Officer of the new combined organization.
Asure Software, Inc. (NasdaqCM:ASUR) completed the acquisition of TelePayroll, Inc. from a family on January 2, 2018.
Asure Software, Inc. is a provider of cloud-based Human Capital Management (HCM) software solutions delivered as Software-as-a-Service (SaaS) for small and medium-sized businesses. Its HCM suite, AsureHCM, includes cloud-based Payroll, Tax Services, and Time & Attendance software and Asure Marketplace as well as human resources (HR) services ranging from HR projects to completely outsourcing payroll and HR staff. AsureMarketplace automates interactions between its HCM systems with third-party providers and extend the range of services offered to employers and their employees. It offers these services directly and indirectly through its network of reseller partners. It provides three levels of HR services: HR support, which provides an on-demand HR resource library, phone and email support for any HR issues and compliance and policy updates; Strategic HR, which provides more in-depth support for strategic HR decision making, and Total HR that offers a complete HR outsourcing solution.
ASURE SOFTWARE, INC. 
