Paychex Buys SurePayroll

December 9, 2010 ( – Paychex has agreed to acquire SurePayroll, a provider of payroll processing for small businesses. 

A news release said the acquisition of SurePayroll’s Web-based payroll platform provides small businesses access to a technology that allows customers to process payroll from a Web browser or iPhone application.

SurePayroll also works with a variety of channel partners, including Citibank, Harris Bank, and SunTrust Bank. The financial institutions provide the SurePayroll offerings to their small business customers through private-label and referral agreements. 

The transaction is expected to close by the end of calendar 2010 and is subject to regulatory review and other customary closing conditions. SurePayroll will be operated as a wholly owned subsidiary of Paychex and Michael Alter will continue to serve as president of SurePayroll, which serves approximately 30,000 small businesses with its online payroll product, the announcement said.

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