What does the merger mean for CoAdvantage and PrimePay in the context of the human capital management (HCM) industry?
Joining forces better enables the delivery of an outstanding experience to all our customers as they evolve in size and preference across the full range of self- to full-service solutions, from standalone payroll to fully outsourced human resources, benefits, risk management, and insurance solutions in complex regulatory environments. This is a rare capability in the payroll and HR technology market, and one that will further strengthen CoAdvantage’s and PrimePay’s positions of industry leadership
What benefits can both companies’ customers anticipate from the merger?
Customers will continue to enjoy their current plans without any required action on their part. All customers will remain on their existing platforms with the same solutions and services they are accustomed to. Additionally, as customer needs evolve our teams will be able to bring even more solutions through access to both platforms and suites of solutions.
Will customers be forced to migrate to a different platform?
No, there are no expected changes to platforms, plans, or service relationships for CoAdvantage or PrimePay customers for the foreseeable future. In cases where an existing customer of one company has a specific need that may be better served by a different solution now available to them through our merger, our teams will present these options and what it will mean for the customer experience transparently to allow the customer to make an informed decision for their business. The goal of the merger is to offer the prospects and customers we serve more flexibility, scalability and choice, not less.
What does the merger mean for new customers?
There has never been a better time for businesses to join us. CoAdvantage and PrimePay together offer a future-proof suite of HR functions. Given the highly complementary offerings of both brands, the joint offering will ensure customers have greater flexibility and choice in the type of payroll and HR services they can access. From standalone payroll to fully outsourced human resources solutions in complex regulatory environments, CoAdvantage and PrimePay together will be able to meet and evolve with the needs of its customers. This also includes competitive benefits programs to attract and retain talent, and a robust proprietary back-end technology stack that can support mid-sized businesses and franchises as they scale and grow.
Will prospects considering CoAdvantage or PrimePay be impacted?
If you’re considering a CoAdvantage or PrimePay solution, or are in the process of onboarding to our products and services, there will be no impact to you. Both CoAdvantage and PrimePay remain committed to delivering transformative HCM technology and advisory services to the businesses we serve. Customers will benefit from increased R&D investment and more than six decades of combined experience in payroll and HR solutions.
Will there be any change to PrimePay’s ProfitKeeper business?
No. ProfitKeeper Franchise Analytics will remain a distinct part of PrimePay’s platform architecture. All customers will continue to use the same platform, solutions, and services.
How will the merger impact partners?
The current service and partnership arrangements will remain unchanged. CoAdvantage and PrimePay remain committed to fostering active partner programs that support mutual growth, including partnerships with CPAs, brokers, banks, HR technology consultants, and independent software vendors (ISVs).
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What will happen to the CoAdvantage and PrimePay brands?
The businesses will continue to operate separately, which for now will include maintaining their current company names and brands in market.
Who will lead CoAdvantage and PrimePay post-close?
Current CoAdvantage CEO John Cumbee will become CEO of both companies upon the merger closing. As part of this planned transition PrimePay’s current CEO and COO, Scott Johnson and Robb Ellis, will serve as strategic advisors during the early stages of the merger. The remainder of the CoAdvantage and PrimePay leadership teams remain unchanged and are excited to collaborate across the newly combined organization.
When is the merger expected to be complete?
The deal is expected to close mid-year calendar year 2025, subject to satisfaction of regulatory approvals and other customary closing conditions. Until the deal closes, CoAdvantage and PrimePay are operating as two independent, legally separate entities. After closing, PrimePay will continue operating as a legally separate entity, but as a standalone business unit of CoAdvantage for the foreseeable future.