B2B Payments

Sage Continues Acquisition Spree With CakeHR

Enterprise software provider Sage is expanding through the acquisition of human resources (HR) solutions provider CakeHR. On Thursday (Nov. 28), CakeHR announced on its company blog that Sage is acquiring the firm to integrate its HR offerings into Sage’s broader enterprise resource planning (ERP) and small business software tools.

CakeHR noted that customers will still be able to use its solution as usual, with the takeover providing funding for CakeHR to invest in its platform. The company said users will experience elevated speed and support, and a larger toolset offering as a result of the acquisition.

According to separate reports in Tech.eu, London-based CakeHR has a customer base of 27,000 users around the globe. Its offerings include HR technology and compliance. Sage’s acquisition will integrate CakeHR’s offering via open API, allowing CakeHR users to access Sage’s range of services, including payroll, from directly within the platform.

Financial details of the takeover were not revealed. Sage plans to roll out CakeHR services to its U.K. customers in the beginning of next year.

“By combining our experience and expertise with Sage, CakeHR will be able to further its vision of providing an easy-to-use, powerful and always-accessible HR platform to any organization,” said CakeHR CEO Kaspars Upmanis in a statement. “HR must be simplified. Joining the ranks of Sage has brought us closer to that goal than ever before.”

In another statement, Sage Chief Product Officer Lee Perkins added, “Building and acquiring great technology to help accountants and businesses focus on what matters most is a critical part of Sage becoming a great [Software-as-a-Service] company. CakeHR provides easy-to-use, cloud-based HR services that help businesses drive productivity, and provide great experience for their people. As with our recent acquisition of AutoEntry, we have been hugely impressed with the people and technology at CakeHR, particularly their ability to enable employees to self-manage, and are delighted to welcome them to Sage.”

Sage announced its takeover of AutoEntry, an automated data-entry solution for small businesses and accountants, in September.

Sage’s former payments gateway unit, Sage Pay, was sold to Elavon in a $300 million deal, announced last month.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.