Employment Hero to acquire Canadian HR firm Humi in North American push
The HR tech unicorn will attempt to crack the lucrative North American market through acquisition rather than organic growth.
HR tech unicorn Employment Hero is set to acquire rival Canadian HR and payroll software company Humi for $112 million, marking its third major acquisition as it seeks to establish a foothold in the North American market.
Sources close to the deal who spoke on the condition of anonymity because it is confidential told Capital Brief the transaction closed this week. Employment Hero staff were notified of the deal late on Wednesday after Capital Brief made inquiries, with Thompson confirming the deal on Linkedin shortly after. Humi staff were informed earlier.
The deal would represent a shift in Employment Hero's expansion strategy, with the company opting to enter the North American market through an established player rather than building from scratch as it did in the UK and Southeast Asia.
Employment Hero's offshore expansion has encountered difficulties. Capital Brief revealed last year it had pulled back from Southeast Asia and cut several jobs to focus on its SmartMatch recruitment marketplace.
