IRIS Software Group Expands US Business with Apex HCM acquisition
Deal expands IRIS’ current offerings in the Americas for payroll service bureaus and CPA firms to help deliver more value-added services
February 28, 2023 — IRIS Software Group (IRIS), a leading global software provider of accountancy and payroll solutions, today announced it has acquired Apex HCM (Apex), a leading cloud-based HCM software provider for payroll service bureaus (PSBs) and Certified Public Accountant (CPA) firms.
Founded in 2008, Apex’s software is used by over 250 PSBs and CPA firms across the US to provide payroll services to over 40,000 SMB and 400,000 employees. Its integrated HR modules also enable PSBs and CPAs to serve their SME clients with recruitment, onboarding, benefits administration, and time and attendance software from a cloud-native platform.
Elona Mortimer-Zhika, CEO of IRIS says, “We are delighted to welcome Apex to the IRIS family. This acquisition continues our successful journey providing leading software to PSBs and CPA firms – a market which IRIS has been serving for over 40 years in the UK and is rapidly expanding in the Americas region.”
The acquisition of Apex is a significant milestone in IRIS’ mission to empower CPA firms and PSBs to deliver an outstanding payroll and HR experience for their customers. The combined Americas business provides payroll solutions for over 150,000 SMBs and one million employees across the United States and Canada. Under IRIS’ ownership, the business will continue to invest in innovation, enabling customers to scale efficiently and serve the evolving needs of SMBs.
Jim Dunham, President and General Manager of IRIS Americas, comments, “Apex is an excellent addition to our US Payroll business and supports our strategy to empower PSBs and CPA firms with market-leading technology to scale their businesses profitably and serve the evolving needs of their SME customers. We are delighted to welcome our new colleagues and customers.”
The news follows a strong year of growth for IRIS across the Americas. In 2022, IRIS recorded 28 percent revenue growth as it successfully executed its vision to supercharge the company’s operations in the Americas, driven by M&A, innovation and senior hires. Recent strategic acquisitions include AccountantsWorld, myPay Solutions Conarc and Doc.It.
The addition of Apex HCM further enhances its ability to help firms achieve their full potential while minimizing admin, making business processes more efficient, and giving more time to do what’s valued.