HRIS Market: Mergers & Acquisitions in 2020
After having successfully acquired People HR and The Payroll Services Company in the back end of 2019, Access Group announced its acquisition of CoreHR in March 2020. Following this acquisition, Access Group launched a brand-new division called Access People – this is headed up by the former CEO of CoreHR, Dean Forbes. The Access People division is now able to offer a wider suite of HRIS solutions that is aimed at different segments of the market.
Advanced have certainly been active in the HRIS market this year. They announced the acquisition of workforce management company, Mitrefinch on 16th October 2020 and a few days later announced the acquisition of Clear Review, a performance management and employee engagement solution. Both acquisitions allow Advanced to support the entire employee life cycle from hire to retire. It compliments existing solutions, OpenHR and OpenPeople.
Allocate Software announced the acquisition of, Selenity, a provider of HR case management and expense management software. This acquisition, plus the acquisition of Enterprise Study (Learning Management System) back in 2019, broadens Allocate’s HCM offering, in particular within the health and care sector.
CIPHR announced the acquisition of long-standing strategic partner, Payroll Business Solutions in the back end of 2019. With over 50 joint customers already, at the time of the acquisition, this seemed to be a natural fit giving CIPHR an opportunity to provide a fully integrated suite of solutions encompassing HR, payroll, recruitment, and learning. In October 2020, CIPHR rebranded its platform to “CIPHR Connect”.
ELMO Software, an Australian based firm, acquires HR platform Breathe and expense management platform Webexpenses, both based in the UK. Both acquisitions will help ELMO accelerate their mid-market expansion and also entry into the small business market, while also expanding its presence in the UK.
Kronos Incorporated and Ultimate Software completed its merger in April 2020. This merger, together with Ultimate Software’s acquisition of PeopleDoc back in 2018, has resulted in the rebranding of the combined organisation to UKG. This brings the combined experience of HR service delivery, human capital management and workforce management solutions together with a singular focus around people.
2021 promises to be an exciting year in the HRIS space. A huge number of organisations are now realising, thanks to the pandemic, that having sophisticated people technology to engage with a vast population of remote workforce is the way forward. This is something I have been promoting for the past decade (i.e. people and technology is fundamental for workplace employee engagement). We here at People Force have been extremely busy over the past six to eight months supporting clients with the procurement and implementation of people technology. At the beginning of 2021 we will be supporting clients with the implementation of People XD (CoreHR/Access People), SAP SuccessFactors, Ceridian Dayforce, UKG (Kronos), IRIS Cascade and Exelsys.
I am really looking forward to what 2021 has in store in the HRIS market. I predict further M&A activity but also Private Equity investments in this ever-growing market.
You will find a further list of M&A activity below together with links to all the relevant announcements. I would like to thank my colleague, Sam Wells, for her support in researching information for this article.
I wish you all a very Happy New Year and thank you for reading this article
(assuming you made it this far!!)
Links to announcements:
- Access Group acquires CoreHR: click here to see the announcement.
- Access Group acquires PeopleHR: click here to see the announcement.
- Access Group acquires Abintegro: click here to see the announcement.
- Access Group acquires eLearning For You: click here to see the announcement.
- Kronos and Ultimate Software merge: click here to see the announcement.
- Kronos, PeopleDoc and Ultimate Software rebrand to UKG: click here to see the announcement.
- CIPHR acquires Payroll Business Solutions: click here to see the announcement.
- CIPHR rebrands people management solutions ‘CIPHR Connect’: click here to see the announcement.
- Advanced acquires Clear Review: click here to see the announcement.
- Advanced acquires Mitrefinch: click here to see the announcement.
- Allocate acquires Selenity: click here to see the announcement.
- Allocate acquires Enterprise Study: click here to see the announcement.
- ELMO acquires Webexpenses: click here to see the announcement.
- ELMO acquires Breathe: click here to see the announcement.
- iCIMS acquires Altru Labs: click here to see the announcement.
- Cornerstone OnDemand acquires Saba: click here to see the announcement.
- Betterworks acquires Hyphen: click here to see the announcement.
- iCIMS acquires Opening.io: click here to see the announcement.