Personio, the Munich-based provider of the HR software solution of the same name for small and medium-sized businesses, is acquiring Rollbox. The Spanish startup focuses on building a highly scalable and automated payroll solution.
In conjunction with the company merger, Personio also announced the launch of Personio Payroll — a new offering based on Rollbox technology that aims to revolutionize the entire payroll process through comprehensive automation.
The acquisition was realized through a combination of cash and company shares. The takeover was based on an eight-figure company valuation of Rollbox. Some of the Rollbox investors transferred their shares to Personio, while others were paid out.
Rollbox founders become part of Personio management
Xavi Leal and Ismael Sanchez, who founded Rollbox in 2016, will become shareholders and are now members of the Personio management team. The company will continue to operate both offices with more than 200 employees spread across its two locations. The headquarters in Munich, currently with 190 employees, and the office in Madrid with 25 employees, which will be expanded to include various focus areas, will continue to expand.
"I'm very pleased about this merger. This step complements our platform with a product that offers our customers significant added value by fully automating their payroll. It's great that Xavi and Isma, along with their entire team, will support us in building the leading HR management, recruiting, and payroll platform in Europe. They've done a great job developing a payroll solution that's scalable across multiple countries and fits very well with our goal of continuing to grow internationally."
commented Hanno Renner, co-founder and CEO of Personio, the acquisition.
Already successful cooperation in the past
Xavi Leal and Ismael Sanchez, the two Rollbox founders and new members of the Personio management team, add:
"We are very happy to now be part of Personio. The integration of our payroll solution into their successful HR platform is a unique opportunity for us. Together, we can now offer one of the best payroll software solutions on the market. Both our products and the employees from both offices are a great fit. We are excited to be part of such a powerful team."
Personio and Rollbox have already successfully collaborated in the past, combining the strengths of the Personio HR platform with those of Rollbox's cross-border solution, thus making payroll processing for their customers significantly more efficient than before through comprehensive automation. Since the beginning of 2019, several Personio customers have successfully processed their payroll using Rollbox's software. In the coming months, Personio will offer this new solution to its more than 1,500 existing—and future—customers.
