Ceridian (TSX, NYSE: CDAY) has acquired most of the assets of Clearview Logix, a Richmond, Virginia-based decision support analytics company, and certain intellectual property assets from Paysa, a Palo Alto, California-based artificial intelligence-enabled personal career advisor.
Terms weren’t disclosed.
Ceridian, a Minneapolis, Minnesota-based human capital management software company led by Canadian entrepreneur David Ossip, said the purchases will enhance its offerings and expand its customer base.
Last year, Ceridian closed a US$462 million Canada-U.S. initial public offering along with an investment from existing backers Thomas H. Lee Partners and Cannae Investors.
PRESS RELEASE
Global HCM Leader Ceridian Acquires Assets of Clearview Logix and Paysa
Ceridian makes work life even better for employers and their employees with best-in-class advanced analytics to make better decisions that lead to better outcomes
March 06, 2019
MINNEAPOLIS & TORONTO–(BUSINESS WIRE)–Ceridian (NYSE: CDAY; TSX: CDAY), a global human capital management (HCM) cloud-based technology company, announced today its acquisition of substantially all of the assets of Clearview Logix, a Richmond, Virginia-based leading decision-support analytics company, and certain intellectual property assets, including paysa.com, from Paysa, a Palo Alto, California-based AI-powered personal career advisor. Financial terms of the transactions were not disclosed.
“Since our initial public offering in April 2018, Ceridian has continued to lead the industry when it comes to investing in innovation that helps employers of all sizes manage the entire employee lifecycle – from recruiting to off-boarding,” said David Ossip, Chairman and CEO, Ceridian. “With these strategic acquisitions, Ceridian is gaining very specialized intellectual property to increase the value of our existing customer offerings and to expand our customer base.”
Clearview Logix builds analytics models to simplify health insurance choices for employees, employers, and their administrative partners. Through integration of Clearview Logix’s benefits decision support technology into Dayforce’s single solution cloud platform, Ceridian will further strengthen and expand its benefits offering, making benefit choices easier to understand for employees.
Paysa’s machine learning model allows employers to compare their internal job scales with local market rates when posting jobs and during compensation merit cycles. Paysa.com empowers employees to explore salaries across companies, jobs, and locations.
“With the intellectual property from these two acquisitions, Dayforce customers and their employees will have valuable, data-driven insights that will lead to better decisions and better outcomes for all,” said Erik Zimmer, Chief Strategy Officer, Ceridian. “The talented team from Clearview Logix will help us accelerate culture-driven innovation at Ceridian.”
“We are very excited to join Ceridian’s team and to fully integrate our benefits decision support technology, the standard for decision support, with the outstanding Dayforce customer experience,” said Tim O’Shea, CEO, Clearview Logix. “With their fast growing customer base, Ceridian will help us realize our mission of simplifying the healthcare experience for everyone.”
“Ceridian will fully integrate the technology of these two acquisitions within Dayforce to help our customers attract, engage and develop the very best people, while saving costs and reducing the administrative burden,” added Ossip. “And we will continue to develop and be opportunistic in acquiring intellectual property to create value for Ceridian and our customers.”
For more information, visit www.ceridian.com.
About Ceridian
Ceridian. Makes Work Life Better
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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.
Contacts
Teri Murphy
647.417.2117
teri.murphy@ceridian.com