Ceridian Acquires ADAM HCM to Extend Global Leadership
Acquisition to accelerate delivery of the Dayforce platform in Mexico and drive value to multinational organizations operating in Latin America and the Caribbean
Ceridian (NYSE: CDAY; TSX: CDAY), a global leader in human capital management (HCM) technology, today announced it has acquired ADAM HCM, a leading payroll and HCM company serving customers in 33 countries across Central America, South America, and the Caribbean. This acquisition positions Ceridian as a leading HCM provider in Latin America and will create value for existing and prospective customers in key markets, including Mexico and Brazil.
Trusted by leading global brands, ADAM HCM has a strong and tenured leadership team and extensive regional knowledge and experience. Through this acquisition, ADAM HCM customers will be able to access Ceridian’s award-winning platform for global HCM, allowing them to scale and grow globally across new geographies.
“This acquisition will accelerate Ceridian’s global growth strategy by extending the Dayforce platform into Latin America, a highly appealing region for our multinational customers,” said David Ossip, Chair and CEO, Ceridian. “Together with ADAM HCM, we’ll enhance our capacity to meet rising customer demand in Latin American countries, while delivering on our brand promise to make work life better for people everywhere.”
Today’s announcement will accelerate Ceridian’s commitment to deliver Dayforce Payroll in Mexico. Dayforce Payroll, Ceridian’s always-on, global payroll platform, improves accuracy by auditing payroll data in real-time while managing global compliance complexities – all within a single solution.
“We are thrilled to become part of Ceridian’s global team and broaden the reach of Dayforce into Latin America and the Caribbean,” said Brian Beneke, CEO, ADAM HCM. “In today’s borderless and fluid world of work, our customers will benefit from a single Dayforce experience that delivers innovation and experiences to help organizations and employees reach their full potential.”
Oppenheimer & Co. acted as exclusive financial advisor to ADAM HCM in this transaction.
Ceridian. Makes Work Life Better™.
Ceridian HCM Holding Inc. (“Ceridian” or the “Company”) (NYSE:CDAY; TSX:CDAY) is a global human capital management software company. Dayforce, our flagship cloud HCM platform, provides human resources, payroll, benefits, workforce management, and talent management functionality. Our platform is used to optimize management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes. Visit Ceridian.com or follow us @Ceridian.
About ADAM HCM
ADAM HCM is a leading provider of payroll and human capital management (HCM) software and outsourcing services in Latin America and the Caribbean. The company’s core platform is designed to serve the multinational HR, workforce management, and payroll needs of global enterprises. ADAM HCM’s ability to provide a unified HR solution, based on a single, proprietary software platform, is unique, and facilitates consolidation of HR functions on a region-wide and global basis.
Forward-Looking Statement and Risk Factors
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding the acquisition discussed in the press release and our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to the future and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
This press release should be read in conjunction with the risks detailed in the “Cautionary Note Regarding Forward-Looking Information,” “Forward-Looking Statement”, “Risk Factors” and other sections of Ceridian’s Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and other filings with the Securities and Exchange Commission.