The acquisition was completed in January.
UKG Inc., a provider of human capital management, payroll, HR service delivery and workforce management solutions with offices in Massachusetts and Florida, announced that it has acquired Interboro Systems Corp. in San Juan.
Financial terms of the transaction were not disclosed. However, through the acquisition, UKG will now provide direct sales, service and customer support for the Caribbean market, it said in a press release.
Interboro is a “long-standing, well-known and highly valued reseller partner of UKG solutions”, he said.
“Establishing a direct presence in the Caribbean adds nearly 70 talented team members to UKG’s population of employees who are solely focused on supporting this emerging market. The team is committed to helping current and future customers access a wider range 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 around $3.2 billion in revenue in 2021.
“People working in the Caribbean have enjoyed the benefits of UKG solutions for years thanks to the commitment of the great team at Interboro,” said Chris Todd, President of UKG.
“We are delighted to welcome Interboro to the UKG family and look forward to helping hundreds of businesses across the Caribbean create more adaptive, flexible and resilient workplaces to better meet the rapidly changing expectations of their employees” , did he declare.
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 deliver even better work experiences, but also for our own team, which will benefit from the great people – UKG led culture.
“Interboro and UKG have long been synonymous in Puerto Rico and the Caribbean, and we are excited to embark on this new chapter as UKG strengthens its global reach,” he said.
The acquisition was completed in January. CoView Capital Inc., a New York-based investment banking and advisory firm registered with FINRA, advised Interboro on the transaction.