Bain Capital to acquire HR Business of Works Applications.

Bain Capital agreed to acquire the HR Business of Works Applications, an ERP system manufacturer in Japan, headquartered in Tokyo. Works Applications will be split in August 2019 and its HR business, including personnel and payroll software, will be handed over to a newly established company. Bain Capital will acquire all of the shares in the new company. Financial terms were not disclosed. "The customer base of Works Applications’ HR business is strong and they offer excellent products. Bain Capital will be providing active support for their further growth, including promoting cross-selling of new features." Yuji Sugimoto, a Managing Director at Bain Capital Private Equity.