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Paychex Strikes $4.1 Billion Deal for Rival Payroll Firm Paycor

The Paychex headquarters in Rochester, New York.
Photographer: Lauren Petracca/Bloomberg

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By Liana Baker

January 7, 2025 at 1:55 PM UTC

This article is for subscribers only.

Paychex Inc. agreed to acquire rival payroll processor Paycor HCM Inc. for about $4.1 billion in cash, including debt.

The company is paying $22.50 per share for Cincinnati-based Paycor, according to a statement Tuesday. That’s 21% higher than the price on Friday, before Bloomberg News reported on Sunday that talks were underway.