TransPerfect, the world’s largest provider of language and AI solutions, has acquired Paybooks Technologies, a leading India-based provider of HR, payroll, and compliance solutions. The financial details of the transaction have not been disclosed.
Paybooks, founded in 2012, offers a cloud-based platform that helps businesses manage the full employee lifecycle, including recruiting, onboarding, payroll processing, benefits, compliance, and more. With this acquisition, Paybooks will benefit from TransPerfect’s vast global network and development resources, allowing for further growth and innovation.
Paybooks will continue to be led by its co-founders, CEO Samira Rao, COO Gururaja Upendra, and CPO Prakash Kumar, all of whom will join TransPerfect’s senior management team. Rao expressed confidence in the acquisition, emphasizing the opportunities it will bring for both Paybooks’ team and customers.
TransPerfect President and Co-CEO Phil Shawe praised Paybooks as an ideal merger candidate, stating that the acquisition will enhance TransPerfect’s ability to help customers manage their global teams. Paybooks’ employees will be retained, and its customers will continue to receive the same level of service, now with the backing of TransPerfect’s resources.
Legal advisors for TransPerfect included Harish K. Lalwani & Associates and Veritas Legal, while Paybooks was represented by Joyce Law and LegalMonk.
