Latest news with #HeartlandPayroll
Bloomberg
28-05-2025
- Business
- Bloomberg
Global Payments Sells Payroll Unit to Acrisure for $1.1 Billion
Acrisure LLC has agreed to buy Heartland Payroll Solutions from Global Payments Inc. for $1.1 billion, as the insurance broker looks to become more of a one-stop shop for fintech services. Michigan-based Acrisure will finance the deal with cash, having just raised fresh capital to help it with strategic acquisitions, according to Chief Executive Officer Greg Williams.
CNA
28-05-2025
- Business
- CNA
Global Payments to sell payroll unit to fintech Acrisure for $1.1 billion
Global Payments said on Wednesday it would sell its payroll division, Heartland Payroll Solutions, to financial technology firm Acrisure for $1.1 billion, marking the payments company's latest attempt at simplifying its business model. Atlanta, Georgia-based Global Payments has been reviewing its business recently, selling off smaller units to become a pure-play payments processor to clients and improve profitability, which has taken a hit in recent quarters. Last month, the company announced the sale of its issuer solutions unit, which offers card processing and account services, to FIS for $13.5 billion as part of a three-way deal. Global Payments had also agreed to sell its medical software business AdvancedMD to investment firm Francisco Partners for $1.13 billion last year. "This (latest) transaction further sharpens our strategic focus and allows us to amplify investment in the markets and solutions where we are most differentiated," said Global Payments CEO Cameron Bready. The company intends to use the proceeds from the divestiture of the payroll business to return capital to shareholders. Founded in 1997, Heartland Payroll caters to more than 50,000 clients, including Marathon Petroleum and Burger King, and will be rebranded after the deal closes — expected in the second half of 2025. Global Payments will partner with Acrisure to continue providing human capital management and payroll offerings to its merchant customers. The deal also comes when Acrisure is expanding beyond its core insurance brokerage business. The Grand Rapids, Michigan-based company had raised $2.1 billion at a $32 billion valuation in a Bain Capital-led funding round earlier this month. "This significant acquisition accelerates our successful transformation into a fully scaled and diversified fintech platform," said Acrisure CEO Greg Williams.
Associated Press
28-05-2025
- Business
- Associated Press
Acrisure Acquires Payroll Business from Global Payments for $1.1 Billion to Expand its Fintech Product Offering
GRAND RAPIDS, Mich.--(BUSINESS WIRE)--May 28, 2025-- Acrisure today announced the signing of a definitive agreement to acquire Global Payments' (NYSE: GPN) payroll business, Heartland Payroll Solutions ('Heartland Payroll'), one of the leading payroll and Human Capital Management (HCM) companies in the United States for $1.1 billion. Upon completion of the transaction, Heartland Payroll – which will be rebranded after closing – will significantly expand Acrisure's current payroll and HCM capabilities and advance its mission to become the preeminent fintech solutions provider for millions of small and medium-sized businesses domestically and abroad. 'This significant acquisition accelerates our successful transformation into a fully scaled and diversified fintech platform,' said Greg Williams, Co-Founder, Chairman and CEO of Acrisure. 'We prioritize the needs of our clients and increasingly, that's a tech-oriented solution that streamlines their back-office operations in important verticals like payroll, compliance and billing,' Williams added. 'We're incredibly excited about partnering with the Heartland Payroll team and look forward to growing this business together.' Heartland Payroll currently provides payroll solutions, HCM software, and other business services to more than 50,000 clients. Vince Lombardo will join Acrisure as part of the transaction and serve as the CEO of Heartland Payroll, leading its existing best-in-class management team. 'Acrisure's strategic acquisition of Heartland Payroll marks an exciting milestone for our team and will provide our business with sharper focus, accelerated growth and greater investment,' said Lombardo. 'I'm honored to join Acrisure and work alongside Greg and the incredible team he's built as we continue to build the most comprehensive provider of financial service products for businesses around the world.' Lombardo brings over 20 years of leadership experience in payroll and financial services, most recently as the President of North America Merchant Solutions at Global Payments. Acrisure's full suite of offerings, include insurance, reinsurance, real estate services, cybersecurity defense tools, payroll, and other essential services to small and medium-sized businesses. Acrisure recently announced that it raised $2.1 billion in a funding round led by Bain Capital which saw the company valuation rise to $32 billion, a nearly 40% increase from its previous funding round only three years ago. The purchase of Global Payments' payroll business is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions. Skadden, Arps, Slate, Meagher & Flom LLP and Kirkland & Ellis LLP served as legal counsel, and Schulte Roth & Zabel LLP served as regulatory counsel, each on behalf of Acrisure. Goldfinch Partners served as an advisor to Acrisure on the transaction. About Acrisure A global fintech leader, Acrisure empowers millions of ambitious businesses and individuals with the right solutions to grow boldly forward. Bringing cutting-edge technology and top-tier human support together, it connects clients with customized solutions across a range of insurance, reinsurance, payroll, benefits, cybersecurity, real estate services – and beyond. In the last eleven years, Acrisure has grown in revenue from $38 million to almost $5 billion and employs over 19,000 colleagues in 23 countries. And this is just the beginning. To learn more, visit View source version on CONTACT: Media Contact: Kate Dillon 646-818-9115 [email protected] KEYWORD: MICHIGAN UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: PROFESSIONAL SERVICES TECHNOLOGY INSURANCE SOFTWARE FINANCE FINTECH BANKING SOURCE: Acrisure Copyright Business Wire 2025. PUB: 05/28/2025 07:11 AM/DISC: 05/28/2025 07:10 AM
Yahoo
28-05-2025
- Business
- Yahoo
Acrisure Acquires Payroll Business from Global Payments for $1.1 Billion to Expand its Fintech Product Offering
Addition of new payroll, HR and billing technology further enhances Acrisure's position as a global fintech leader GRAND RAPIDS, Mich., May 28, 2025--(BUSINESS WIRE)--Acrisure today announced the signing of a definitive agreement to acquire Global Payments' (NYSE: GPN) payroll business, Heartland Payroll Solutions ("Heartland Payroll"), one of the leading payroll and Human Capital Management (HCM) companies in the United States for $1.1 billion. Upon completion of the transaction, Heartland Payroll – which will be rebranded after closing – will significantly expand Acrisure's current payroll and HCM capabilities and advance its mission to become the preeminent fintech solutions provider for millions of small and medium-sized businesses domestically and abroad. "This significant acquisition accelerates our successful transformation into a fully scaled and diversified fintech platform," said Greg Williams, Co-Founder, Chairman and CEO of Acrisure. "We prioritize the needs of our clients and increasingly, that's a tech-oriented solution that streamlines their back-office operations in important verticals like payroll, compliance and billing," Williams added. "We're incredibly excited about partnering with the Heartland Payroll team and look forward to growing this business together." Heartland Payroll currently provides payroll solutions, HCM software, and other business services to more than 50,000 clients. Vince Lombardo will join Acrisure as part of the transaction and serve as the CEO of Heartland Payroll, leading its existing best-in-class management team. "Acrisure's strategic acquisition of Heartland Payroll marks an exciting milestone for our team and will provide our business with sharper focus, accelerated growth and greater investment," said Lombardo. "I'm honored to join Acrisure and work alongside Greg and the incredible team he's built as we continue to build the most comprehensive provider of financial service products for businesses around the world." Lombardo brings over 20 years of leadership experience in payroll and financial services, most recently as the President of North America Merchant Solutions at Global Payments. Acrisure's full suite of offerings, include insurance, reinsurance, real estate services, cybersecurity defense tools, payroll, and other essential services to small and medium-sized businesses. Acrisure recently announced that it raised $2.1 billion in a funding round led by Bain Capital which saw the company valuation rise to $32 billion, a nearly 40% increase from its previous funding round only three years ago. The purchase of Global Payments' payroll business is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions. Skadden, Arps, Slate, Meagher & Flom LLP and Kirkland & Ellis LLP served as legal counsel, and Schulte Roth & Zabel LLP served as regulatory counsel, each on behalf of Acrisure. Goldfinch Partners served as an advisor to Acrisure on the transaction. About Acrisure A global fintech leader, Acrisure empowers millions of ambitious businesses and individuals with the right solutions to grow boldly forward. Bringing cutting-edge technology and top-tier human support together, it connects clients with customized solutions across a range of insurance, reinsurance, payroll, benefits, cybersecurity, real estate services – and beyond. In the last eleven years, Acrisure has grown in revenue from $38 million to almost $5 billion and employs over 19,000 colleagues in 23 countries. And this is just the beginning. To learn more, visit View source version on Contacts Media Contact: Kate Dillon646-818-9115kdillon@ Sign in to access your portfolio
Business Wire
28-05-2025
- Business
- Business Wire
Acrisure Acquires Payroll Business from Global Payments for $1.1 Billion to Expand its Fintech Product Offering
BUSINESS WIRE)-- Acrisure today announced the signing of a definitive agreement to acquire Global Payments' (NYSE: GPN) payroll business, Heartland Payroll Solutions ('Heartland Payroll'), one of the leading payroll and Human Capital Management (HCM) companies in the United States for $1.1 billion. Upon completion of the transaction, Heartland Payroll – which will be rebranded after closing – will significantly expand Acrisure's current payroll and HCM capabilities and advance its mission to become the preeminent fintech solutions provider for millions of small and medium-sized businesses domestically and abroad. 'This significant acquisition accelerates our successful transformation into a fully scaled and diversified fintech platform,' said Greg Williams, Co-Founder, Chairman and CEO of Acrisure. 'We prioritize the needs of our clients and increasingly, that's a tech-oriented solution that streamlines their back-office operations in important verticals like payroll, compliance and billing,' Williams added. 'We're incredibly excited about partnering with the Heartland Payroll team and look forward to growing this business together.' Heartland Payroll currently provides payroll solutions, HCM software, and other business services to more than 50,000 clients. Vince Lombardo will join Acrisure as part of the transaction and serve as the CEO of Heartland Payroll, leading its existing best-in-class management team. 'Acrisure's strategic acquisition of Heartland Payroll marks an exciting milestone for our team and will provide our business with sharper focus, accelerated growth and greater investment,' said Lombardo. 'I'm honored to join Acrisure and work alongside Greg and the incredible team he's built as we continue to build the most comprehensive provider of financial service products for businesses around the world.' Lombardo brings over 20 years of leadership experience in payroll and financial services, most recently as the President of North America Merchant Solutions at Global Payments. Acrisure's full suite of offerings, include insurance, reinsurance, real estate services, cybersecurity defense tools, payroll, and other essential services to small and medium-sized businesses. Acrisure recently announced that it raised $2.1 billion in a funding round led by Bain Capital which saw the company valuation rise to $32 billion, a nearly 40% increase from its previous funding round only three years ago. The purchase of Global Payments' payroll business is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions. Skadden, Arps, Slate, Meagher & Flom LLP and Kirkland & Ellis LLP served as legal counsel, and Schulte Roth & Zabel LLP served as regulatory counsel, each on behalf of Acrisure. Goldfinch Partners served as an advisor to Acrisure on the transaction. About Acrisure A global fintech leader, Acrisure empowers millions of ambitious businesses and individuals with the right solutions to grow boldly forward. Bringing cutting-edge technology and top-tier human support together, it connects clients with customized solutions across a range of insurance, reinsurance, payroll, benefits, cybersecurity, real estate services – and beyond. In the last eleven years, Acrisure has grown in revenue from $38 million to almost $5 billion and employs over 19,000 colleagues in 23 countries. And this is just the beginning. To learn more, visit
