Ceridian Corporation, a provider of business management software has announced that the company has entered into a definitive agreement to acquire Dayforce Corporation. The acquisition underscores Ceridian’s commitment to cloud technology and builds on Ceridian’s February 2011 investment in Dayforce’s award-winning HCM platform.
“Innovation is a top priority at Ceridian. With this acquisition we are gaining development and delivery expertise and innovative technology that are the perfect complement to Ceridian’s experience, established customer base and tremendous market reach,” said Stuart C. Harvey, Jr., Ceridian’s chief executive officer and president. “We are well positioned to deliver the most advanced human capital management cloud platform in the industry.”
Ceridian introduced its new workforce management solution in 2011 using the Dayforce platform. The customer response to the new workforce management offering has been overwhelmingly successful, with over 450 accounts sold in less than a year.
“Our partnership with Ceridian has been a perfect match from the outset,” said David Ossip, Dayforce chief executive officer and president. “Ceridian’s large customer base and robust distribution channels are an ideal outlet for Dayforce’s innovation and development expertise.”
Ceridian’s new platform will be marketed as Dayforce|HCM and in 2012 will include human resources, payroll, benefits, self-service, time & attendance, and scheduling. Clients can access the solution via the web and on mobile devices.
Dayforce|HCM has been designed for both existing and new clients, including two-way interfaces with Ceridian’s current HR, payroll, benefits, and paycard solutions. This allows Ceridian’s 130,000 existing customers to benefit from the new Dayforce|HCM modules while continuing to use their existing Ceridian products.
The transaction is expected to close in March, at which time Ossip will become president of Ceridian Dayforce, the new organization responsible for the development and management of Ceridian’s Dayforce|HCM application and services. Closing of the transaction is subject to customary conditions, including approval of Dayforce’s shareholders and of the Canadian court with jurisdiction over the transaction.