Us-based HR and payroll company Deel, has revealed its acquisition of PaySpace, a distinguished South African payroll and HR services firm. Despite not disclosing the financial particulars of the deal, PaySpace will function as Deel’s exclusive calculation engine, positioning the company as the first EOR equipped with a multi-country global payroll calculator.
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Deel operates as a comprehensive human resources startup serving businesses in more than 70 countries. With an ambition to offer a full HR stack globally, Deel has served all African countries except the Democratic Republic of the Congo, Guinea-Bissau, Liberia, and the Central African Republic.
Operating across 44 countries in Europe, Latin America, the Middle East, and Africa, PaySpace has experienced substantial annual sales growth of over 30%. In collaboration with Deel, PaySpace has been providing payroll services to around 10 African countries. Following the acquisition, PaySpace will function as a subsidiary of Deel while retaining its operational independence and dedicated workforce. PaySpace serves a diverse clientele of over 14,000 customers, including notable brands like Heineken and Coca-Cola Beverages.
Deel’s acquisition of PaySpace enhances its payroll capabilities in Africa, the Middle East, and APAC. By integrating PaySpace’s technology with its own, Deel aims to offer comprehensive global payroll solutions.
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