Ultimate Software to Acquire People Doc for a reported $300 Million

Ultimate Software to Acquire People Doc for a reported $300 Million

Cloud-based management software provider Ultimate Software is acquiring France-based HR solutions company PeopleDoc for $300M in cash and stock; Ultimate Software’s 4.1k clients represent 38M employees; PeopleDoc serves 4M employees and has previously raised $51M. The HR tech space is quickly becoming a global network of products particularly in the enterprise space. The press release is below. See the story on TechCrunch. WESTON, Fla.–(BUSINESS WIRE)–Ultimate Software (Nasdaq:ULTI), a leading provider of human capital management (HCM) solutions, announced today that it has entered into a binding Letter of Intent (LOI) with the controlling shareholders of PeopleDoc with respect to the acquisition of PeopleDoc by Ultimate Software. PeopleDoc — a pioneer in HR Service Delivery — is based in Paris, France, and has more than 1,000 customers with users in 180 countries. The addition of the PeopleDoc HR Service Delivery platform will further Ultimate’s mission to improve the employee