Ceridian - Chairman and CEO, David Ossip
Chairman and CEO, David Ossip
Source: Financial Post
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  • Management software company, Ceridian (TSX:CDAY) has acquired Singapore-based Excelity Global Solutions
  • Ceridian and Excelity both develop software to help companies manage payroll, employee benefits and human resources
  • The move is part of Ceridian’s ongoing global expansion in the region, following similar acquisitions in New Zealand and Australia, earlier this year
  • Ceridian has appointed Stephen Moore to manage Excelity’s team, as well as oversee the company’s other operations in the region
  • Ceridian (CDAY) is up 0.27 per cent and is currently trading at C$94.34 per share

Management software company, Ceridian (TSX:CDAY) has acquired Singapore-based Excelity Global Solutions, as part of its global expansion initiative.

The acquisition finalised today, after being announced earlier this month 

Ceridian and Excelity both develop software to help companies manage payroll, employee benefits and human resources. 

Servicing the Asia Pacific region, Excelity Global was founded in 1997 and was previously a subsidiary of the Everstone Group. Its payroll platform currently manages 1.2 million payslips per month. 

The move is part of Ceridian’s ongoing expansion in the region and follows similar acquisitions in New Zealand and Australia, earlier this year.

Chairman and CEO of Ceridian, David Ossip said the acquisition is important step in the company’s ongoing expansion. 

“We welcome our new colleagues, customers and partners, and we look forward to extending our leadership in the Asia Pacific and Japan regions,” he said. 

Alongside the acquisition, Ceridian has appointed its Executive Director of Australia and New Zealand, Stephen Moore, as the company’s Head of Asia Pacific Japan. 

In this new role, Stephen will manage Excelity’s team moving forward, while continuing to oversee Ceridian’s operations throughout the region.

In a recent statement Stephen said he looks forward to elevating Ceridian’s customer experience and continuing the company’s recent strong performance. 

The company’s market share has made a quick recovery, since almost halving at the onset of the COVID-19 pandemic. After reaching a 52-week low in early April, the company’s share price recently returned to pre-pandemic levels. 

Ceridian (CDAY) is up 0.27 per cent and is currently trading at C$94.34 per share at 2:25pm EDT.

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