Quick Take
Paychex (PAYX) announced it has agreed to acquire Oasis Outsourcing for $1.2 billion.
Oasis Outsourcing operates as a professional employer organization [PEO] to enable companies to outsource various human capital services.
PAYX is acquiring the largest privately-held PEO firm in the U.S. and stands to generate revenue and cost synergies as the PEO industry expands in the aftermath of the financial crisis.
Target Company
West Palm Beach, Florida-based Oasis Outsourcing was founded in 1996 to provide outsourced HR services, such as administration and development, employee benefits management, payroll administration, risk management,