PeopleDoc sold to Ultimate Software (NASDAQ) for $300M

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PeopleDoc sold to Ultimate Software (NASDAQ) for $300M. Alven selling 100% of its shares together with Accel, Eurazeo and Kernel.

PeopleDoc—a pioneer in cloud-based HR Service Delivery—has more than 265 employees, with offices in France, the United States,  Germany, the U.K., Finland, the Netherlands, and Canada. PeopleDoc serves more than 1,000 customers in 180 countries representing over 4 million end users, including companies such as Avis Budget Group, Club Med, GoDaddy, HSBC, Nestle, and Yves Rocher.

 

The company was founded by Jonathan Benhamou and Clément Buyse with the mission of making it easier for HR teams to elevate the level of service they provide to their employees. PeopleDoc’s comprehensive HR Service Delivery cloud based Saas platform enables HR organizations to serve employees anytime, anywhere, with the ability to easily answer employee requests on demand; automate employee processes; and manage document acknowledgement, storage, and compliance across multiple global locations. With less time spent managing time-consuming administrative tasks, HR can focus more time on connecting with the workforce to improve the employee experience and increase engagement at work.

 

Alven invested in the Series A round together with Kernel (Pierre Kosciusko-Morizet), followed by Accel who invested in the Series B and Eurazeo in the Series C.

Ultimate (quoted on the NASDAQ stock exchange with more than $9 bn in market capitalization) is a leading provider of cloud-based human capital management solutions, with more than 38 million people records in the Ultimate cloud. Ultimate’s award-winning UltiPro delivers HR, payroll, talent, and time and labor management solutions that connect people with the information they need to work more effectively. Founded in 1990, Ultimate is headquartered in Weston, Florida, and employs more than 4,300 professionals. Ultimate has more than 4,100 customers with employees in 160 countries

The selling price for 100% of Peopledoc is $300 million, paid with a combination of cash and shares of Ultimate Software common stock, with approximately $125 million of cash. Alven is selling 100% of its shares in the transaction.


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