Human capital management firm UKG buys Interboro Systems Corp.
UKG Inc., a provider of human capital management, payroll, HR service delivery, and workforce management solutions with offices in Massachusetts and Florida, announced it has purchased Interboro Systems Corp. in San Juan.
The financial terms of the deal were not disclosed. However, through the acquisition, UKG will now provide direct sales, services, and customer support for the Caribbean market, it said in a press release.
Interboro is a “well-known and highly regarded longtime reseller partner of UKG solutions,” it stated.
“The establishment of a direct presence within the Caribbean adds nearly 70 talented team members to the UKG employee population focused solely on supporting this emerging market. The team is committed to helping current and future customers access a broader array of award-winning UKG solutions and services, including UKG Dimensions, UKG Pro, and UKG Ready,” the company added.
UKG has some 13,500 employees across its operations and generated about $3.2 billion in revenue in 2021.
“People working throughout the Caribbean have enjoyed the benefits of UKG solutions for years through the commitment of the tremendous Interboro team,” said Chris Todd, president at UKG.
“We’re thrilled to welcome Interboro into the UKG family and are eager to help hundreds of Caribbean businesses create more adaptive, flexible, and resilient workplaces to better meet the rapidly changing expectations of their people,” he said.
Meanwhile, Bob Cohen, co-owner of Interboro, said “the opportunity to join the UKG family will not only create new opportunities for our customers to provide even better workplace experiences, but also for our own team, who will benefit from the tremendous people-driven UKG culture.”
“Interboro and UKG have long been synonymous in Puerto Rico and the Caribbean, and we’re thrilled to embark on this new chapter as UKG strengthens its global reach,” he said.
The acquisition closed in January. CoView Capital Inc., a New York-based, FINRA-registered investment banking and advisory firm advised Interboro on the transaction.