Gadens advises Deel, Inc. on the acquisition of PayGroup Limited
- Published: 23 March 2023
- Law Firm: Gadens
Gadens has advised leading payroll and compliance platform Deel, Inc. (Deel) on the acquisition of 100% of PayGroup’s shares by way of a scheme of arrangement. Deel, Inc. completed its acquisition of PayGroup, a publicly traded global payroll company based in Melbourne, on 18 November 2022 for total consideration of $119.8 million.
Founded in 2019 in San Francisco, Deel is a global payroll and compliance provider for international employees and contractors. Deel’s market-leading platform allows customers to hire remote workers and contractors in over 150 countries in minutes. Officially launched in the Australian market in 2021, Deel is rapidly expanding its global reach.
Commenting on the transaction, partner Vaughan Petherbridge said:
“Deel’s acquisition of PayGroup will significantly expand Deel’s footprint in Australia and Asia. This is an exciting opportunity for both businesses and we look forward to working with Deel on the integration of PayGroup into the broader Deel business in the coming months.”
Deal value: Approx. $120m.
Practice group: Corporate, Disputes & Investigations.
Key team members: The team advising on the transaction was led by partners Vaughan Petherbridge and Jol Rogers who were supported by Steven Wambeek (Senior Associate), Kier Svendsen (Senior Associate), Robert Wilson (Associate), Sophia Liu (Lawyer) and Jade Thomas (Lawyer).