Paychex Completes Acquisition of Oasis Outsourcing

ROCHESTER, New York, Dec. 21 -- Paychex, a provider of integrated human capital management solutions for payroll, human resources, retirement and insurance services, issued the following news release:

Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services, today announced that it has completed the acquisition of Oasis Outsourcing Acquisition Corporation ("Oasis"), the nation's largest privately owned professional employer organization (PEO) and an industry leader in providing human resources outsourcing services. The purchase price was $1.2 billion, subject to customary closing adjustments.

The acquisition significantly advances Paychex's leadership position in HR outsourcing, leveraging the scope of the company's technology platform, providing new clients access to Paychex's innovative products and technology-enabled services, and creating one of the nation's leading PEOs. Paychex now serves more than 1.4 million worksite employees (WSEs) through its HR outsourcing services.

Oasis, headquartered in West Palm Beach, Florida, serves more than 8,400 clients across all 50 states with its HR solutions, employee benefits, payroll administration, and risk management services.