Asure Software is starting the year with three more acquisitions.
The Austin-based company said Tuesday it has purchased TelePayroll Inc. and Pay Systems of America Inc., which both provide human resources, payroll and employees benefit services.
TelePayroll is based in Los Alamitos, Calif., and Pay Systems of America is headquartered in Farmington Hills, Michigan.
In addition, Assure Software said it acquired Savers Administrative Services, a third-party administrator of payroll and human resources services. The company is based in Winston-Salem, N.C.
Financial terms of the deals were not disclosed. Assure Software said the acquisitions are expected to generate about $13 million in revenue in 2018.
Assure Software’s products are used to help companies manage mobile workforces spread around the world. The company has grown in recent years by buying smaller companies.
“These new acquisitions provide us with significant customer, product and financial synergies,” Pat Goepel, Asure CEO, said in a written statement. “In particular, they expand Asure’s footprint across the U.S., giving us greater coverage nationwide.”
Goepel said TelePayroll expands Asure Software’s presence on the West Coast, while Savers Administrative marks the company’s entry into the Carolinas, and Pay Systems of America furthers its expansion in the Southeast, he said.
Asure Software’s products include tools for tracking work hours as well as managing hoteling, which involves providing office space for mobile workers on an as-needed basis rather than a traditional reserved desk. The company has more than 80,000 clients worldwide.
In light of the new purchases, Asure Software updated its financial guidance for 2018. The company said it expects revenue of between $78 million and $81 million and earnings, excluding one-time expenses, of between $18 million and $20 million.
That’s up from November guidance of revenue ranging from $70 million to $80 million and earnings, after one-time items, of $16 million to $20 million.
Goepel said the company “is positioned to capitalize on the robust pipeline of opportunities in front of us and remain focused on achieving our mid-term goal of surpassing $100 million in revenue.”
Shares of Asure Software were up 47 cents, or 3 percent, at $14.59 in mid-morning trading.
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