Ceridian (NYSE: CDAY; TSX: CDAY), a global leader in human capital
management (HCM) technology, today announced it has entered into a
definitive share sale agreement to acquire Ascender,
a leading payroll and HR solutions provider in Asia Pacific Japan
(APJ). Together with Ascender, Ceridian will provide the
most comprehensive payroll and human capital
management solutions in the region. The transaction is
expected to close in the second quarter of 2021.
“The acquisition
of Ascender will strengthen our leadership
in the APJ region, accelerate our global growth strategy, and
deliver even greater value to our customers,” said David Ossip,
Chairman and CEO, Ceridian. “I look forward to welcoming
the Ascender team to Ceridian and to working together on
our shared vision to create exceptional employee
experiences.”
“The combination of Ascender with Ceridian will
be tremendous news for our
employees, customers, and partners, who
will benefit from Ceridian’s global scale and
award-winning Dayforce platform. We’re committed to helping
our customers successfully navigate the future of work as we embark
on a new chapter within the Ceridian family,” said Andrew Wilson,
CEO, Ascender.
Ascender provides more than 1,200 global brands with
leading payroll and HR capabilities. As a premier HCM provider in
the region, Ascender has deep industry expertise across
all verticals, including higher education and government, as well
as a strong partner ecosystem. With this acquisition, Ceridian will
serve a combined 1,500 customers and 2.5 million employees across
30 countries in the region, including Australia, China, Japan,
Malaysia, New Zealand, Philippines, Singapore, and
Thailand.
The Ascender acquisition will support Ceridian’s
proven track record of successfully bringing value-driven
organizations into the company. Previously, Ceridian
acquired Excelity Global, a Singapore-based leading
HCM provider, and RITEQ, an Australia-based leading
enterprise workforce management provider. With the
acquisition, Ceridian will have the opportunity to deliver
additional value to Ascender’s customers through the Dayforce
platform’s full-suite HCM capabilities, including workforce
management, payroll, and time and attendance.
“APJ is the fastest growing region for payroll and HCM, and
Ceridian is uniquely positioned to support organizational leaders
driving transformation in today’s rapidly changing world,” said
Stephen Moore, Head of Asia Pacific Japan, Ceridian. “We look
forward to serving more customers in the region with Ceridian’s
award-winning products and expanding the breadth and depth of our
leadership team.”
Goldman Sachs & Co LLC, PwC, and Minter Ellison are serving
as advisors for Ceridian on the acquisition. Morgan Stanley,
Gilbert + Tobin, Ernst & Young, and PwC are serving as advisors
to Ascender. Ascender is backed by a private equity consortium
led by Potentia Capital and 5V Capital, which acquired
the company in 2015.
About Ceridian Ceridian. Makes
Work Life Better™.
Ceridian HCM Holding Inc. (“Ceridian” or the “Company”)
(NYSE:CDAY) (TSX:CDAY) 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.
About Ascender
Ascender serves more than 1.3 million employees throughout Asia
Pacific Japan with Payroll and Human Capital Management platforms.
With more than 900 dedicated professionals across 31
countries, Ascender services a diverse range of clients’ payroll
requirements through leading technology and innovative processes.
Today, more than 1,200 global brands and listed companies trust
Ascender to meet their payroll and HR needs. Ascender is backed by
a private equity consortium led by Potentia Capital.
About Potentia Capital
Potentia Capital is Australia’s leading private equity
investment firm focused exclusively on technology, tech-enabled
services, and software businesses. The team is one of the most
experienced in the Australian private equity market, having
deployed over $2 billion in capital across more than ten
investments in the technology sector globally. More information on
Potentia can be found at (http://www.potentiacap.com/)
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 1-844-829-9499 investors@ceridian.com
Media contact: Teri
Murphy 1-647-417-2117 teri.murphy@ceridian.com
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