Paychex, a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services, acquired Oasis Outsourcing, the nation’s largest privately owned professional employer organization, for $1.2bn. “This acquisition reinforces Paychex's commitment to meet the HR technology and advisory needs of our clients and their employees in ways that are transforming their experience, and accelerates top-line growth,” says Martin Mucci, president and CEO of Paychex. “We know there’s a growing need today among small and mid-sized businesses for HR technology and outsourcing services, especially given the ever-increasing number of regulations around issues like paid family leave, health care, and anti-harassment training requirements. Those businesses need the integrated technology and expert support Paychex offers, expertise that grows with the addition of Oasis. This acquisition will strengthen our PEO growth strategy, gain scale for new products with our insurance carrier partners, provide a new client base to offer Paychex retirement and time and attendance products, and augment our experienced management team. This is a great time for our two companies to come together.”