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Alight Sells Payroll and Professional Services Business to H.I.G. Capital for $1.2 Billion

Smita SinghbySmita Singh
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Alight Sells Payroll and Professional Services Business to H.I.G. Capital for $1.2 Billion

Alight Sells Payroll and Professional Services Business to H.I.G. Capital for $1.2 Billion

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In a significant move within the human capital management industry, Alight, Inc., a leading cloud-based human capital technology and services provider, has agreed to sell its payroll and professional services business to an affiliate of the private equity firm H.I.G. Capital. The deal, valued at up to $1.2 billion, comprises $1 billion in cash alongside up to $200 million in seller notes. An additional $150 million is contingent upon the financial performance of the sold business in 2025. This strategic divestiture aims to streamline Alight’s operations and focus on its core competencies, enhancing its competitive edge in the technology sector.

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The transaction is perceived as a move by Alight to become more agile and bolster its competitiveness by concentrating on its technological advancements. The sale includes two units within its Payroll & Professional Services business: the Professional Services Segment and the Payroll & Human Capital Management Outsourcing businesses. The decision reflects Alight’s strategy to optimize its portfolio and direct attention towards areas with the most significant growth potential.

Alight’s choice to divest these segments comes as part of its broader strategy to refine its focus on leveraging technology to provide superior services. This agreement not only simplifies Alight’s business structure but also promises to inject substantial capital that can be potentially redirected towards technological innovation and expanding its offerings in the human capital management space.

Tags: Alight Inc. SaleEnhancing Corporate AgilityH.I.G. Capital AcquisitionHappy Place to Work CertificationHPTWHuman Capital ManagementPayroll Services BusinessPrivate Equity Deals in HR TechProfessional Services DivestitureStrategic Business MovesTechnology and Services Sector Growth
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