Acrisure Acquires Payroll Business from Global Payments for $1.1 Billion to Expand its Fintech Product Offering
Addition of new payroll, HR and billing technology further enhances Acrisure's position as a global fintech leader
Acrisure today announced the signing of a definitive agreement to acquire Global Payments' (NYSE:GPN) payroll business, Heartland Payroll Solutions ("Heartland Payroll"), one of the leading payroll and Human Capital Management (HCM) companies in the United States for $1.1 billion.
Upon completion of the transaction, Heartland Payroll – which will be rebranded after closing – will significantly expand Acrisure's current payroll and HCM capabilities and advance its mission to become the preeminent fintech solutions provider for millions of small and medium-sized businesses domestically and abroad.
"This significant acquisition accelerates our successful transformation into a fully scaled and diversified fintech platform," said Greg Williams, Co-Founder, Chairman and CEO of Acrisure. "We prioritize the needs of our clients and increasingly, that's a tech-oriented solution that streamlines their back-office operations in important verticals like payroll, compliance and billing," Williams added. "We're incredibly excited about partnering with the Heartland Payroll team and look forward to growing this business together."
Heartland Payroll currently provides payroll solutions, HCM software, and other business services to more than 50,000 clients. Vince Lombardo will join Acrisure as part of the transaction and serve as the CEO of Heartland Payroll, leading its existing best-in-class management team.
"Acrisure's strategic acquisition of Heartland Payroll marks an exciting milestone for our team and will provide our business with sharper focus, accelerated growth and greater investment," said Lombardo. "I'm honored to join Acrisure and work alongside Greg and the incredible team he's built as we continue to build the most comprehensive provider of financial service products for businesses around the world."
Lombardo brings over 20 years of leadership experience in payroll and financial services, most recently as the President of North America Merchant Solutions at Global Payments.
Acrisure's full suite of offerings, include insurance, reinsurance, real estate services, cybersecurity defense tools, payroll, and other essential services to small and medium-sized businesses. Acrisure recently announced that it raised $2.1 billion in a funding round led by Bain Capital which saw the company valuation rise to $32 billion, a nearly 40% increase from its previous funding round only three years ago.
The purchase of Global Payments' payroll business is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions.
Skadden, Arps, Slate, Meagher & Flom LLP and Kirkland & Ellis LLP served as legal counsel, and Schulte Roth & Zabel LLP served as regulatory counsel, each on behalf of Acrisure. Goldfinch Partners served as an advisor to Acrisure on the transaction.
About Acrisure
A global fintech leader, Acrisure empowers millions of ambitious businesses and individuals with the right solutions to grow boldly forward. Bringing cutting-edge technology and top-tier human support together, it connects clients with customized solutions across a range of insurance, reinsurance, payroll, benefits, cybersecurity, real estate services – and beyond. In the last eleven years, Acrisure has grown in revenue from $38 million to almost $5 billion and employs over 19,000 colleagues in 23 countries. And this is just the beginning. To learn more, visit Acrisure.com.
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