Ceridian to Acquire Singapore-based Excelity Global
Ceridian (NYSE: CDAY) has announced its acquisition of Excelity Global Solutions, enhancing its position in the Asia-Pacific HCM market. This strategic move is expected to close in Q2 2020 and aligns with Ceridian's expansion efforts in the region. Excelity, operating since 1997, serves over 300 customers across Asia and delivers 1.2 million payslips monthly utilizing a proprietary payroll platform. Stephen Moore will lead Ceridian's new Asia-Pacific Japan region post-acquisition, aiming to leverage the Dayforce platform to enhance service delivery for regional clients.
- Acquisition of Excelity enhances Ceridian's market position in Asia-Pacific.
- Excelity's expertise and customer base will drive new growth opportunities.
- The transaction supports Ceridian's strategic expansion in the region.
- None.
MINNEAPOLIS and TORONTO and SINGAPORE, May 06, 2020 (GLOBE NEWSWIRE) -- Ceridian (NYSE: CDAY; TSX: CDAY), a global leader in human capital management (HCM) technology, today announced it has entered into a definitive share purchase agreement to acquire Excelity Global Solutions Pte Ltd. (Excelity), an Asia-based HCM service provider from the Everstone Group. The transaction is expected to close during the second quarter of 2020.
“Building on our recent investment and expansion in Australia and New Zealand, the acquisition of Excelity will position Ceridian as a leading HCM provider in the Asia-Pacific region and demonstrates our intent to advance our growth globally,” said David Ossip, Chairman and Chief Executive Officer, Ceridian. “We look forward to welcoming Excelity’s employees, customers, and partners to Ceridian. Our two companies share a commitment to helping leaders make smart decisions that create quantifiable value for their companies and experiences their employees will love.”
"Ceridian has experienced extraordinary growth because they put the customer at the center of everything they do, and they do the most complex things exceptionally well and at scale,” said Jeya Kumar, Executive Chairman, Excelity. “Ceridian and its industry-leading Dayforce solution will help our customers achieve their aspirations.”
Founded in 1997, Excelity works with more than 300 customers across the APAC region. It operates its proprietary native payroll platform in India, China, Hong Kong, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand, Australia, and New Zealand delivered through the Managed Services, Platform as a Service (PaaS) and Software as a Service (SaaS) models. A leading HR outsourcing services partner in the region, Excelity delivers over 1.2 million payslips per month. Customers include Forbes, Volvo, Emerson, Oracle, QBE, Palo Alto Networks, Mammoet, Lufthansa, Uber, and Mondelez.
Today, Ceridian also announced that Stephen Moore, Ceridian’s Executive Director of Australia and New Zealand, will assume the newly created position of Head of Asia Pacific Japan (APJ), upon closing of the acquisition. In this expanded role, Moore will have responsibility for Ceridian’s new Asia Pacific Japan region, including the Excelity team. Moore, who has more than 30 years of experience leading customer operations in APJ, will help Ceridian enhance its world-class service to our customers globally.
“As we accelerate our global momentum, I look forward to elevating the experience we provide to our customers and continuing our strong operational performance,” said Stephen Moore. “Ceridian has 4,480 customers on the Dayforce platform, and we look forward to bringing the full power of Dayforce to customers in the Asia Pacific Japan region.”
About Ceridian
Ceridian. Makes Work Life Better™
Ceridian HCM Holding Inc. (Ceridian) is a global human capital management software company. Dayforce, our flagship cloud HCM platform, provides human resources, payroll, benefits, workforce management, and talent management functionality. Our platform is used to optimize management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes. Visit Ceridian.com or follow us @Ceridian.
Forward-Looking Statement and Risk Factors
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding the acquisition discussed in the press release and our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to the future and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
This press release should be read in conjunction with the risks detailed in the “Cautionary Note Regarding Forward-Looking Information,” “Forward-Looking Statement”, “Risk Factors” and other sections of Ceridian’s Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and other filings with the Securities and Exchange Commission.
Investor Relations contact:
Jeremy Johnson
Vice President, Finance and Investor Relations
Ceridian HCM Holding Inc.
1-844-829-9499
investors@ceridian.com
Media contact:
Teri Murphy
647.883.8041
teri.murphy@ceridian.com
FAQ
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