Minneapolis, MN and Toronto, ON, March 6, 2019
Ceridian (NYSE: CDAY; TSX: CDAY), a global human capital management (HCM) cloud-based technology company, announced today its acquisition of substantially all of the assets of Clearview Logix, a Richmond, Virginia-based leading decision-support analytics company, and certain intellectual property assets, including paysa.com, from Paysa, a Palo Alto, California-based AI-powered personal career advisor. Financial terms of the transactions were not disclosed.
“Since our initial public offering in April 2018, Ceridian has continued to lead the industry when it comes to investing in innovation that helps employers of all sizes manage the entire employee lifecycle – from recruiting to off-boarding,” said David Ossip, Chairman and CEO, Ceridian. “With these strategic acquisitions, Ceridian is gaining very specialized intellectual property to increase the value of our existing customer offerings and to expand our customer base.”
Clearview Logix builds analytics models to simplify health insurance choices for employees, employers, and their administrative partners. Through integration of Clearview Logix’s benefits decision support technology into Dayforce’s single solution cloud platform, Ceridian will further strengthen and expand its benefits offering, making benefit choices easier to understand for employees.
Paysa’s machine learning model allows employers to compare their internal job scales with local market rates when posting jobs and during compensation merit cycles. Paysa.com empowers employees to explore salaries across companies, jobs, and locations.
“With the intellectual property from these two acquisitions, Dayforce customers and their employees will have valuable, data-driven insights that will lead to better decisions and better outcomes for all,” said Erik Zimmer, Chief Strategy Officer, Ceridian. “The talented team from Clearview Logix will help us accelerate culture-driven innovation at Ceridian.”
“We are very excited to join Ceridian’s team and to fully integrate our benefits decision support technology, the standard for decision support, with the outstanding Dayforce customer experience,” said Tim O’Shea, CEO, Clearview Logix. “With their fast growing customer base, Ceridian will help us realize our mission of simplifying the healthcare experience for everyone.”
“Ceridian will fully integrate the technology of these two acquisitions within Dayforce to help our customers attract, engage and develop the very best people, while saving costs and reducing the administrative burden,” added Ossip. “And we will continue to develop and be opportunistic in acquiring intellectual property to create value for Ceridian and our customers.”
For more information, visit www.ceridian.com.
Ceridian. Makes Work Life Better™.
Ceridian is a global human capital management software company. Dayforce, our flagship cloud HCM platform, provides human resources, payroll, benefits, workforce management, and talent management functionality. Our platform is used to optimize management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes. Visit Ceridian.com or follow us @Ceridian.
Forward-Looking Statement and Risk Factors
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
This press release should be read in conjunction with the risks detailed in the “Cautionary Note Regarding Forward-Looking Information,” “Forward-Looking Statement”, “Risk Factors” and other sections of the Company’s Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and other filings with the Securities and Exchange Commission.