West Palm Beach, Florida-based Oasis has 1,100 employees and provides employee benefits, payroll administration, and risk management services.
Oasis is reportedly the biggest privately-held outsourcing company in the United States, and is qualified to offer IRS-certified professional employer organization (CPEO) services.
Founded in 1996, it claims to have 8400 clients in the US alone. It grew bigger in July this year when it acquired Aureon HR, a Midwest-based PEO service provider and a subsidiary of Aureon.
This is the second major acquisitions by paychex after it purchased PEO HR Outsourcing Holdings Inc last year.
“We know there’s a growing need today among small and mid-sized businesses for HR technology and outsourcing services, especially given the ever-increasing number of regulations around issues like paid family leave, health care, and anti-harassment training requirements,” stated Martin Mucci, president and CEO of Paychex, in a press release.
“This acquisition will strengthen our PEO growth strategy, gain scale for new products with our insurance carrier partners, provide a new client base.”
Paychex serves over 650,000 payroll clients as of May 31, 2018, across more than 100 locations in the US and Europe, and pays one out of every 12 American private sector employees.
Even after the transaction closes, both companies will continue to operate as separate entities.