---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-033968"
form_type: "8-K"
ticker: "ALIT"
cik: "0001809104"
company_name: "Alight, Inc. / Delaware"
filed_at: "2024-03-20T23:59:59+00:00"
generated_at: "2026-06-04T11:54:00.163166+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Alight sells Payroll & Professional Services to H.I.G. Capital for up to $1.2B; raises margin guidance

## Summary
- Sale price: $1.0B cash + $50M note at closing + up to $150M contingent note on 2025 performance.
- Expected closing by mid-2024, subject to regulatory approvals; no stockholder vote required.
- Post-close recurring revenue to rise from 84% to >90%; mid-term adjusted EBITDA margin target raised to 28%.
- Net after-tax cash proceeds to reduce debt, target net leverage below 3x; board adds $200M to stock buyback authorization ($248M total).
- Transaction valued at ~10x 2023 adjusted EBITDA and ~24x unlevered free cash flow.

## SEC filing metadata
- accession: 0000950170-24-033968
- form_type: 8-K
- ticker: ALIT
- cik: 0001809104
- company_name: Alight, Inc. / Delaware
- filed_at: 2024-03-20T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1809104/000095017024033968/0000950170-24-033968-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1809104/000095017024033968/alit-20240320.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-033968
- JSON: https://secwatch.observer/filing/0000950170-24-033968.json
- Plain text: https://secwatch.observer/filing/0000950170-24-033968.txt

## Key facts
- Material Agreements
  Alight, Inc. / Delaware entered into Stock and Asset Purchase Agreement with Axiom Buyer, LLC, a newly-formed entity and an affiliate of H.I.G. Capital, L.L.C. valued at up to approximately $1.2 billion (effective 2024-03-20).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Axiom Buyer, LLC, a newly-formed entity and an affiliate of H.I.G. Capital, L.L.C.
  - Value: up to approximately $1.2 billion
  - Effective: 2024-03-20
  source text: On March 20, 2024, Alight, Inc. (together with its subsidiaries, the “Company” or “Alight”) and Tempo Acquisition LLC, a subsidiary of the Company (“Seller”), entered into a Stock and Asset Purchase Agreement (the “Purchase Agreement”), pursuant to which Seller has agreed to sell Alight’s Professional Services segment and Alight’s Payroll & HCM Outsourcing businesses within the Employer Solutions segment (collectively, the “Divested Business” or “Payroll and Professional Services”) to Axiom Buyer, LLC, a newly-formed entity and an affiliate of H.I.G. Capital, L.L.C. (“Purchaser”), for a purchase price of up to approximately $1.2 billion (the “Purchase Price”), plus the assumption by Purchaser of certain liabilities of the Divested Business as specified in the Purchase Agreement (collectively, the “Transaction”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1809104/000095017024033968/0000950170-24-033968-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.