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Papaya Global To Acquire Digital Cross-Border Payments Service Azimo, Making Payments Instant And Unbound By Geography

Mar 28, 2022•over 3 years ago

Acquiring Company

Papaya Global

Acquired Company

Stripe, Inc.

New YorkSan FranciscoFinancial Servicesinformation technology & servicesInformation Technology

Description

Papaya Global, the global people management platform for the remote working era, announced today that it has agreed to acquire Azimo, the global digital cross-border payments service, making it possible to pay employees almost instantly regardless of geography and typical payroll limitations.

Company Information

Company

Papaya Global

Location

New York, New York, United States

About

Papaya Global powers global hiring through enabling people, payroll, and payment management for organizations in over 160 countries. When companies want to remove barriers to global hiring, enhance engagement, and optimize employee experience at the same time - they call Papaya Global. Papaya's automated, cloud-based SaaS platform provides an end-to-end solution, from onboarding to on-going management and cross-border payments. The platform is customizable to all business requirements, integrates with existing HRIS management tools, and uses intelligent technology to ensure compliance and eliminate errors. It gathers all employee information into one place, creating a highly visible system for tracking payroll spending, and provides real-time business intelligence. Papaya's team currently spans Tel Aviv, New York, Austin, London, Kiev, Singapore, and Melbourne.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed