Monthly Industry Pulse

Paychex Buys Paycor, Accolade Acquisition & More Industry News

A wave of strategic acquisitions across industries, led by Paychex’s recent Paycor buyout, is poised to reshape the market. Could this spark a larger trend?
In This Post:

Starting this January, Shortlister is launching a monthly round-up of the industry’s latest news and updates. From important announcements to upcoming events, get a quick summary of what’s most relevant to help you stay updated with key industry developments.

In our first issue, we look at the series of major acquisitions that marked the start of the year and made waves across their respective industries.

Read on for details on these deals and their potential market impact.

Paychex Buys Paycor

As of January 7, Paychex has entered into a definitive agreement to acquire Paycor HCM, Inc.

The $4.1 billion deal, expected to close in the first half of 2025, pending regulatory approvals, will expand Paychex’s human capital management solutions by integrating Paycor’s payroll, talent, and HCM platform.

The CEOs of both companies agreed that this partnership would benefit consumers, highlighting the expertise, innovation, and AI-driven solutions it will bring to the market.

Their combined offering is set to be one of the most comprehensive HCM portfolios in the industry.

“This acquisition represents a significant milestone in our journey to provide best-in-class HCM solutions to businesses of all sizes,” said John Gibson, President and CEO of Paychex, an industry leader in HCM solutions.

“Paycor’s mission is to empower business leaders to achieve greater success,” added Raul Villar, Jr., CEO of Paycor.

“This acquisition represents a significant milestone in our journey to provide best-in-class HCM solutions to businesses of all sizes.”
John Gibson, President and CEO of Paychex

Based in Cincinnati, Ohio, the company was founded in 1990 and has served thousands of clients nationwide with its HCM, payroll, and talent platform. Since going public in 2021, Paycor has focused on upmarket growth through investments in data, AI, and other cutting-edge technologies.

“We are confident that our customers will benefit from the shared expertise, resources, and innovative HCM solutions of both companies to drive even greater people and business performance,” concludes Villar.

This move comes amid a broader consolidation trend in the payroll and HR sector, including one by ADP in October, when they acquired WorkForce Software.

Read the full press release here: Paychex Enters into Definitive Agreement to Acquire Paycor

Transcarent to Acquire Accolade

Only a day later, on January 8, Transcarent confirmed its acquisition of Accolade in a deal valued at $621 million.

The takeover will result in an industry-leading healthcare platform combining Transcarent’s AI-powered WayFinding with Accolade’s health advocacy, expert medical opinions, and primary care services.

Both parties are confident that this will improve care utilization, lower costs, and ultimately improve the quality of care.

We are excited to double down on creating a powerful AI platform enabling consumers to take charge of their care,” said Hemant Taneja, who will be joining the Transcarent Board of Directors as a part of this transaction.

The acquisition is expected to close in Q2 2025, pending stockholder approval and regulatory reviews, making Accolade a privately held company.

Read the full press release here: Transcarent to Acquire Accolade

bswift Acquires Evive Health

bswift’s acquisition of Evive Health, announced last November, marked the start of 2025 with the rollout of a new, fully integrated personalized engagement platform.

According to bswift CEO Ted Bloomberg, incorporating Evive’s technology allows the company to offer a robust engagement tool within its Ben Admin solution.

The platform uses predictive analytics, behavioral science, and data-driven personalization to improve healthcare outcomes by increasing benefits awareness and utilization.

“By bringing bswift and Evive together, we have integrated a powerful engagement platform into our core benefits administration solution. That is a first, and we are delighted to immediately and directly support employers’ critical priorities with proven industry-leading capabilities,” said Bloomberg, explaining the integration came as a response to client needs for personalized experiences, better engagement, and cost management.

Read the full press release here: bswift Acquires Evive: Launches Integrated, Personalized Engagement Engine

Progyny Expands Family Benefits with BenefitBump Acquisition

Progyny, Inc. wraps up this month of acquisitions by announcing its purchase of BenefitBump on January 28.  

With this deal, the company will expand its family-building and women’s health offering, adding services like parental leave and benefits navigation, a clinical social worker-led parental wellness program, peer support groups, and more. 

According to Progyny CEO Pete Anevski, BenefitBump’s acquisition will extend their ability to provide compassionate and dedicated support to their members, giving them more confidence in their parenting journey. 

“BenefitBump’s high-touch, guided support integrates seamlessly into our existing patient care model and aligns with our commitment to improving member well-being through a higher standard of care,” said Anevski. 

This move strengthens the company’s mission to reduce stress for parents, improve work outcomes, and provide a more integrated approach to family health from fertility through early childhood. 

Read the full press release here: Progyny, Inc. Enhances Suite of Services with Acquisition of BenefitBump 

Written by tamara jovanovska

Senior Content Writer at Shortlister

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