Today, European tech investor Tenzing announced that its portfolio company, activpayroll, the leading global payroll and employee mobility specialist, has acquired Propay Partners.
The acquisition of the Malaysia-based payroll outsourcing and employee mobility specialist gives activpayroll an increased presence in a key growth region. The payroll leader has ambitious growth plans for Asia Pacific and sees Propay at the centre of that expansion, primarily down to its proximity to service the largest customers in Asia and access to a highly-skilled talent pool, which will further enhance the service offering.
Propay has built a strong reputation for high customer service during its 21-year history by consistently delivering excellence. It has a solid track record in streamlining payroll outsourcing solutions and employee mobility and has ensured its clients stay ahead of the curve due to its innovative offering.
Jason Allen, CEO of activpayroll, said: ‘At activpayroll, we are targeting long-term sustainable growth, building an ambitious approach to acquiring new business while continuing to provide excellent service to our existing customers. Acquiring Propay and the associated growth in the Asia Pacific region is key to us achieving this objective.
Propay and activpayroll have a long-standing partnership spanning over ten years and have fostered a strong collaborative working relationship which places people at the heart of our success.
When we decided to make the strategic move and strengthen our presence in Asia Pacific, we knew that Propay was the perfect fit. The coming together of these two companies will ensure our continued high service delivery to our growing customer base, and I’m confident that together we will meet our strategic objective of being best-in-class in the Asia Pacific market.’
Manish Mehta, Co-Founder and Business Director of Propay Partners, said: ‘We’ve spent the past 21 years building and growing our business and now feels like the right time to integrate with activpayroll. We are confident they will help support the team on the next stage of their journey. The values and commitment that activpayroll has to its people and customers will help ensure a seamless transition for our team members, clients and partners. The Propay team is excited to join activpayroll and help drive future growth and success in the region.’
Manish brings considerable experience to activpayroll and has joined the team as the new Regional Director for Asia Pacific.
Mike Reynolds, Investment Lead at Tenzing, added: “activpayroll has delivered impressive year-on-year revenue growth, and Asia Pacific proves to be a significant part of that success. The acquisition of Propay will enable this growth to accelerate and provide the ideal opportunity to further enhance the service to existing customers whilst supporting activpayroll’s success in the region.”
Tenzing provided a dedicated Acquisitions Director to assist activpayroll with this acquisition. The firm has supported its portfolio companies in completing 16 acquisitions within the last 12 months.