Ceridian Announces Agreement to Acquire Australian Workforce Management Solutions Provider, RITEQ
September 05 2019 - 05:27PM
Business Wire
Acquisition to accelerate Ceridian’s momentum in the Australian
and New Zealand markets
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 RITEQ, a
provider of enterprise workforce management solutions1. Founded in
2001, RITEQ has operations in Sydney, Melbourne, Brisbane, Perth,
New Zealand, and the UK and serves more than 325 customers.
“Our two companies share a commitment to technological
excellence and customer success, and we are excited about welcoming
RITEQ’s employees, partners, and customers into the Ceridian
family,” said Erik Zimmer, Chief Strategy Officer, Ceridian. “The
acquisition of RITEQ, combined with Dayforce Payroll in Australia,
will truly position Ceridian as a leading HCM provider in the
region.”
The acquisition follows Ceridian’s April launch of its
award-winning Dayforce Payroll solution to the Australian market.
Today, the Dayforce platform offers Australian employers –
including Michael Hill, Harris Farm, Optus, and G8 Education – a
single HCM solution to manage the entire employee lifecycle
including HR, recruiting, onboarding, performance, learning,
compensation, workforce management, and payroll.
“Australia and New Zealand are highly attractive markets,” said
David Ossip, Chairman and CEO, Ceridian. “We believe that the
combination of the RITEQ team’s talent, deep workforce management
capabilities, and market expertise will amplify the value we
deliver to employers in these markets. We look forward to
continuing to drive great employee experiences and hard dollar
returns for our customers.”
“We’re tremendously excited about entering into a new chapter
with Ceridian. Together, we will be able to offer our customers
end-to-end HCM capabilities through the Dayforce platform,” said
David Kroser, Managing Director and Co-founder, RITEQ.
Ceridian. Makes Work Life Better™.
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 the Company’s Quarterly Reports on Form 10-Q, Annual
Reports on Form 10-K and other filings with the Securities and
Exchange Commission.
1 Ceridian announced the entering of a definitive shared
purchase agreement with Lusworth Pty Limited, the parent company of
RITEQ. This transaction is expected to close in the next few
weeks.
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version on businesswire.com: https://www.businesswire.com/news/home/20190905006034/en/
Media contact: Teri Murphy 647.883.8041
teri.murphy@ceridian.com
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