PENFIELD (dpa-AFX) - Paychex (PAYX) has entered into a definitive agreement to acquire Paycor HCM, Inc. (PYCR), a provider of HCM, payroll and talent software in an all-cash deal for $22.50 per share, representing an enterprise value of approximately $4.1 billion. Headquartered in Cincinnati, Ohio, Paycor has approximately 2,900 employees, serves over 49,000 clients, and supports approximately 2.7 million employees across the United States.
Paychex expects the acquisition to be neutral to slightly accretive to adjusted diluted EPS in the first fiscal year post-close and accretive in the second fiscal year and beyond.
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