[Global] Vistra announces its strategic acquisition of iiPay

On May 7, the essential business services provider Vistra announced that it has agreed to acquire iiPay, a market leader in cloud-based global payroll solutions. 

Vistra stated that the strategic acquisition will significantly enhance the scale of its payroll capabilities in the fast-growing mid-market and enterprise multi-country payroll space, positioning Vistra as a top 4 market leader in global payroll.

On completion of the acquisition, the combined business will process almost ten million payslips annually and operate in over 170 markets. Vistra will leverage both organisations’ complementary capabilities to expand its offering to clients. Uniting iiPay’s outbound payroll expertise and capabilities in the US, Canada, Europe and Latin America, with Vistra’s established in-country payroll and advisory capabilities across the Asia Pacific and EMEA regions.

iiPay’s scalable, multi-country platform is driven by innovative tech that automates and solves the complexities of managing global payroll, increasing time savings, reducing manual intervention, and enhancing the experience for clients’ employees. Vista reportedly intends that combining this technology with local payroll delivery through in-house payroll experts, and a strong partner network of in-country affiliates with a deep understanding of local legislation and regulatory requirements, will create a compelling end-to-end, scaled global payroll solution.

The iiPay team have built a strong client base, including well-recognised corporate customers, that use its payroll solution to support their international expansion, particularly where payroll complexities are high. For iiPay clients, the acquisition will enable access to Vistra’s global expertise and products, including multi-country entity management, tax, statutory accounting compliance, and HR advisory services.

Simon Webster - CEO of Vistra Group - said, “A seamless payroll experience is key to Vistra’s vision of making operating globally feel borderless and frictionless. Our solutions help our clients to navigate complexity in both their domestic and international markets, and to operate efficiently and compliantly wherever they need to. The acquisition of iiPay means we will be able to provide high-volume multi-country payroll while adding to our deep bench of specialist expertise. It is also an accelerator of our platform strategy that aims to redefine how the world does business, making corporate compliance effortless and driving progress without friction.” 

T. Curtis Holmes - CEO of iiPay - said, “This is a landmark moment for both iiPay and Vistra, marking the beginning of an exciting new chapter in global payroll. This transformative acquisition propels iiPay and Vistra into a market leadership position in the global payroll industry. Together, we are combining our strengths to accelerate product innovation, expand our capabilities, and create opportunities for our teams. Most importantly, this positions us to deliver an exceptional experience for our valued clients on a global scale, which remains our top priority.”

Completion of the transaction is reportedly subject to FCA approval.

Source: iiPay

(Quotes via original reporting)

On May 7, the essential business services provider Vistra announced that it has agreed to acquire iiPay, a market leader in cloud-based global payroll solutions. 

Vistra stated that the strategic acquisition will significantly enhance the scale of its payroll capabilities in the fast-growing mid-market and enterprise multi-country payroll space, positioning Vistra as a top 4 market leader in global payroll.

On completion of the acquisition, the combined business will process almost ten million payslips annually and operate in over 170 markets. Vistra will leverage both organisations’ complementary capabilities to expand its offering to clients. Uniting iiPay’s outbound payroll expertise and capabilities in the US, Canada, Europe and Latin America, with Vistra’s established in-country payroll and advisory capabilities across the Asia Pacific and EMEA regions.

iiPay’s scalable, multi-country platform is driven by innovative tech that automates and solves the complexities of managing global payroll, increasing time savings, reducing manual intervention, and enhancing the experience for clients’ employees. Vista reportedly intends that combining this technology with local payroll delivery through in-house payroll experts, and a strong partner network of in-country affiliates with a deep understanding of local legislation and regulatory requirements, will create a compelling end-to-end, scaled global payroll solution.

The iiPay team have built a strong client base, including well-recognised corporate customers, that use its payroll solution to support their international expansion, particularly where payroll complexities are high. For iiPay clients, the acquisition will enable access to Vistra’s global expertise and products, including multi-country entity management, tax, statutory accounting compliance, and HR advisory services.

Simon Webster - CEO of Vistra Group - said, “A seamless payroll experience is key to Vistra’s vision of making operating globally feel borderless and frictionless. Our solutions help our clients to navigate complexity in both their domestic and international markets, and to operate efficiently and compliantly wherever they need to. The acquisition of iiPay means we will be able to provide high-volume multi-country payroll while adding to our deep bench of specialist expertise. It is also an accelerator of our platform strategy that aims to redefine how the world does business, making corporate compliance effortless and driving progress without friction.” 

T. Curtis Holmes - CEO of iiPay - said, “This is a landmark moment for both iiPay and Vistra, marking the beginning of an exciting new chapter in global payroll. This transformative acquisition propels iiPay and Vistra into a market leadership position in the global payroll industry. Together, we are combining our strengths to accelerate product innovation, expand our capabilities, and create opportunities for our teams. Most importantly, this positions us to deliver an exceptional experience for our valued clients on a global scale, which remains our top priority.”

Completion of the transaction is reportedly subject to FCA approval.

Source: iiPay

(Quotes via original reporting)