Vistra, a leading provider of essential business services that help organizations to invest, grow and operate efficiently and compliantly across the world, announced it has entered into an agreement to acquire iiPay, a market leader in cloud-based global payroll solutions. This strategic acquisition will significantly enhance the scale of Vistra's payroll capabilities in the fast-growing mid-market and enterprise multi-country payroll space, positioning Vistra as a top 4 market leader in global payroll.

Once completed, the combined business will process almost ten million payslips annually and operate in over 170 markets. To bring clients more compelling solutions, Vistra will leverage both organizations' highly complementary capabilities: iiPay's deep outbound payroll expertise and capabilities in the US, Canada, Europe and Latin America, together with Vistra's established in-country payroll and advisory capabilities across the Asia Pacific and EMEA regions.

iiPay's scalable, multi-country platform is driven by innovative technology that automates and solves the complexities of managing global payroll, increasing time savings, reducing manual intervention, and enhancing the experience for clients' employees. Combining this technology with local payroll delivery through in-house payroll experts, and a strong partner network of in-country affiliates with deep understanding of local legislation and regulatory requirements, creates a compelling end to end scaled global payroll solution.

The expertise, capability, and innovative mindset of the iiPay team have enabled it to build a strong client base, including well-recognized corporate customers, that use its payroll solution to support their international expansion, particularly where payroll complexities are high. For iiPay clients the acquisition enables access to Vistra's global expertise and products including multi-country entity management, tax, statutory accounting compliance, and HR advisory services.

Simon Webster, CEO of Vistra Group, stated, "A seamless payroll experience is key to Vistra's vision of making operating globally feel borderless and frictionless. Our solutions help our clients to navigate complexity in both their domestic and international markets, and to operate efficiently and compliantly wherever they need to. The acquisition of iiPay means we will be able provide high-volume multi-country payroll while adding to our deep bench of specialist expertise. It is also an accelerator of our platform strategy that aims to redefine how the world does business, making corporate compliance effortless and driving progress without friction."