Immedis announces acquisition of US international payroll company Expaticore

• Acquisition represents a $10 million dollar investment by Immedis
• Expaticore currently employs 35 with all employees remaining at its current New Jersey

Immedis, a specialist division of the Irish owned Taxback Group has today announced the acquisition of US international payroll company Expaticore. The $10 million acquisition is a first for Immedis, signifying a key step in the organisation’s ambitious growth plans, and its commitment to being the best in the field of international payroll and tax services.

Expaticore, a tremendously successful company in its own right, has an established international client base and a proven reputation for high quality work, which has led to impressive client retention rates.

The acquisition is set to strengthen Immedis’ capabilities in the US and globally, increasing the network of expertise and bringing more benefit to clients worldwide. Immedis’ current client list includes amongst others Airbus, ESB International and Lifes2Good.

Speaking about the acquisition, Ruairi Kelleher, Executive Director of Immedis said, “This is a wonderful day for Immedis and a significant milestone. We see real potential for the services we offer in the US market and are delighted to welcome our colleagues at Expaticore on board. There are clear synergies between the two businesses including our existing technology and tax expertise and their expertise on international payroll.

There is little doubt that this level of expertise along with their talented team and network in the US will be extremely beneficial to Immedis and to our clients. Today’s announcement is a testament to the incredibly hard work of the team here at Immedis, and the support of the wider Taxback Group.”

David Leboff, President and Founder of Expaticore commented, “After two years of a growing relationship, I am proud that Expaticore is joining the Immedis family. The integration of both companies is certainly the most important development in the global payroll industry in years.”

“The research and investment Immedis has put into developing their global payroll & mobility tax platform will have a significant impact on providing true transparency for clients seeking information in real time concerning their payrolls, employees and tax obligations.”

For further information:

Dan O’Neill

Teneo PSG

01 634 2549 / 087 1232182

dan.oneill@teneopsg.com

ENDS

About Immedis

Immedis is a specialist division of The Taxback Group, a multi award winning global financial services group established in 1996, with over 1,100 employees in 33 offices worldwide. The core business of Immedis is to service the multi-country payroll and tax obligations of clients with staff that are overseas, whether local or expatriate.

About Expaticore

Expaticore is a US international payroll company operating in over 60 countries worldwide. Expaticore employs a total of 35 employees at its New Jersey base on the east coast of America. Its main business is to transform global payroll functions into world-class operations by introducing tailored payroll program design, implementation and administration solutions for companies worldwide.