Melbourne, Australia, September 5, 2019
Ceridian (NYSE: CDAY; TSX: CDAY), a global leader in human capital management (HCM) technology, today announced it has entered into a definitive share purchase agreement to acquire RITEQ, a provider of enterprise workforce management solutions1. Founded in 2001, RITEQ has operations in Sydney, Melbourne, Brisbane, Perth, New Zealand, and the UK and serves more than 325 customers.
“Our two companies share a commitment to technological excellence and customer success, and we are excited about welcoming RITEQ’s employees, partners, and customers into the Ceridian family,” said Erik Zimmer, Chief Strategy Officer, Ceridian. “The acquisition of RITEQ, combined with Dayforce Payroll in Australia, will truly position Ceridian as a leading HCM provider in the region.”
The acquisition follows Ceridian’s April launch of its award-winning Dayforce Payroll solution to the Australian market. Today, the Dayforce platform offers Australian employers – including Michael Hill, Harris Farm, Optus, and G8 Education – a single HCM solution to manage the entire employee lifecycle including HR, recruiting, onboarding, performance, learning, compensation, workforce management, and payroll.
“Australia and New Zealand are highly attractive markets,” said David Ossip, Chairman and CEO, Ceridian. “We believe that the combination of the RITEQ team’s talent, deep workforce management capabilities, and market expertise will amplify the value we deliver to employers in these markets. We look forward to continuing to drive great employee experiences and hard dollar returns for our customers.”
“We’re tremendously excited about entering into a new chapter with Ceridian. Together, we will be able to offer our customers end-to-end HCM capabilities through the Dayforce platform,” said David Kroser, Managing Director and Co-founder, RITEQ.
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
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 the acquisition discussed in the press release and 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 the future 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.
1 Ceridian announced the entering of a definitive shared purchase agreement with Lusworth Pty Limited, the parent company of RITEQ. This transaction is expected to close in the next few weeks