Paylocity to Acquire Airbase for About $325M

Paylocity agrees to buy payment software developer Airbase

Paylocity Holding Corp. has agreed to acquire Airbase Inc. for about $325 million, the companies said Monday. Airbase is a San Francisco-based provider of spend management software, with offerings that include corporate cards, expense management, bill payments and invoice approvals.

Paylocity looks to bolster its offerings with Airbase's spend management technology

The deal is expected to close in the third quarter of Paylocity's fiscal year 2023, subject to customary closing conditions. Upon completion of the acquisition, Airbase will operate as a wholly owned subsidiary of Paylocity.

Paylocity said the acquisition will allow it to offer a more comprehensive suite of human capital management (HCM) solutions to its customers. Airbase's spend management technology will complement Paylocity's existing HCM offerings, which include payroll, human resources, and benefits administration.