Deel acquires Safeguard Global's payroll division to better manage ‘large, complex global payroll projects’

Deel is set to acquire Safeguard Global's payroll division, a key provider of global payroll solutions that serves an excess of 140 markets and processes more than 2.4 million pay slips per year.

The deal follows a string of other M&As that have occurred this year already, including the merger of Benefex and Benify, and the acquisition of Eqtble from Paradox.

To find out more about what this acquisition means for the busnisses, UNLEASH spoke exclusively to Deel’s CEO and Co-Founder, Alex Bouaziz.

Strengthening global payroll

The deal will enable both businesses to merge their expertise in payroll, to ensure projects are completed seamlessly and effectively.

The hundreds of experts in Safeguard Global’s payroll team will be joining Deel, to combine their knowledge and tools with Deel’s immigration and legal experts, while leveraging the business's compliance knowledge.

“This acquisition reinforces Deel's position as a leader in global payroll,” says Bouaziz.

By integrating Safeguard Global’s payroll team, extensive expertise, and customer base, it will further our ability to win and manage large, complex global payroll projects.By integrating Safeguard Global’s payroll team, extensive expertise, and customer base, it will further our ability to win and manage large, complex global payroll projects.

“It’s an area where we are seeing significant growth that we’re now better positioned to capitalize on.

“Earlier this year we announced that we achieved a run-rate of $800 million and our acquisition strategy has helped spur our growth trajectory.

“Identifying ‘best-in-class’ companies and leaders, bringing them to Deel, and innovating alongside them as a single team with shared resources is critical to our long-term strategy.”

What's more, Deel's in-house experts will assist Safeguard Global with complex projects, proving particularly useful with experience and knowledge of upstream ERP solutions, data migrations, integrations, and payroll requirements, which can reduce wasted time and resources.

Both businesses say they’re “excited” about the acquisition, and how the in-house expertise will “bolster” the payroll and HR technology on the market.