San Francisco-based workforce compliance and payroll tech unicorn Deel is making a major play to capitalise on the shift to remote working in the APAC region, stumping up a $119 million offer for ASX-listed small-cap PayGroup.
The $1 per share cash offer in the form of a scheme of arrangement for the payroll and human capital management solutions company has been unanimously recommended by the PayGroup board, and came at a hefty 174 per cent premium to its last traded price.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
