Ceridian acquires Ascender to boost HCM capabilities
Asia Pacific payroll and HR solutions provider Ascender and more than 1500 of its customers will soon become part of human capital management (HCM) provider Ceridian, after the two companies struck a definitive share sale agreement to acquire Ascender.
Ceridian's HCM platform Dayforce provides services including HR, benefits, payroll, workforce management, and talent management, will soon incorporate Ascender's payroll and HR capabilities.
Ceridian's Asia Pacific Japan head Stephen Moore says, "APJ is the fastest growing region for payroll and HCM, and Ceridian is uniquely positioned to support organisational leaders driving transformation in today's rapidly changing world. We look forward to serving more customers in the region with Ceridian's products and expanding the breadth and depth of our leadership team.
Ceridian will also inherit Ascender's customers and partner ecosystem across 30 countries, including Australia, China, Japan, Malaysia, New Zealand, Philippines, Singapore, and Thailand.
According to Ceridian, the acquisition will support its mission to bring value-driven organisations into its own company. Ceridian most recently acquired a Singapore-based HCM provider called Excelity Global, and an Australia-based enterprise workforce management provider called RITEQ.
In a statement, Ceridian says that Ascender now provides an opportunity to deliver the Dayforce platform with full-suite HCM features, such as workforce management, time and attendance, and payroll.
"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," says Ceridian chairman and CEO David Ossip. "I look forward to welcoming the Ascender team to Ceridian and to working together on our shared vision to create exceptional employee experiences."
Ascender CEO Andrew Wilson says the acquisition is 'tremendous news' for employees, customers, and partners.
"We're committed to helping our customers successfully navigate the future of work as we embark on a new chapter within the Ceridian family," notes Wilson.
Ceridian states that the transaction is expected to close in the second quarter of 2021. The companies have not disclosed the purchase price.
Ceridian is working with Goldman Sachs - Co and Minter Ellison as advisors on the deal. Ascender is working with Morgan Stanley, Gilbert + Tobin, Ernst - Young, and PwC.
Ascender is backed by a private equity consortium led by Australian private equity investment firm Potentia Capital and Australian firm 5V Capital, which acquired the company in 2015. Potentia has invested more than $2 billion in capital across more than 10 tech sector investments globally.
