Paylocity acquires Blue Marble Payroll for $60M cash; <2% of FY22 revenue

Paylocity Holding Corp

$60M cash acquisition of Blue Marble Payroll; affiliate of Chairman Steven Sarowitz is largest Blue Marble equityholder.
Blue Marble serves ~450 clients, covers payroll in over 150 countries, employs about 75 people.
Acquisition expected to represent less than 2% of Paylocity total revenue in fiscal 2022; guidance to be updated in Q1 FY22 earnings.
Audit Committee approved after fairness opinion from Houlihan Lokey; disinterested directors unanimously voted in favor.

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