Salary.com™ Closes Acquisition of Genesys Software Systems, Inc.
December 17 2008 - 4:30PM
Business Wire
Salary.com, Inc. (Nasdaq:SLRY), a recognized leader in on-demand
compensation and talent management solutions, today announced that
it has completed its acquisition of Genesys Software Systems, Inc.,
a leading provider of on-demand human resource management systems
(HRMS), benefits and payroll services. Kent Plunkett, chief
executive officer of Salary.com said, �Through this acquisition
Salary.com adds critical transactional HR management capabilities
including payroll and benefits administration to our on-demand
strategic talent management solutions. We are excited to be joined
by industry veterans Randy Cooper, who will head Salary.com�s HRMS
and Payroll division, and Dave Fiacco, who will be responsible for
service implementation and operation of the new division.� In
connection with the acquisition, Salary.com expects to issue a
total of 384,000 shares of restricted stock to Mr. Cooper and Mr.
Fiacco as an inducement for them to join Salary.com. These shares
will vest in installments over five years and are subject to the
approval of the Compensation Committee of Salary.com�s Board of
Directors. About Salary.com, Inc. Salary.com is a leading provider
of on-demand compensation and talent management solutions helping
businesses and individuals manage pay and performance. Salary.com's
highly configurable software applications, proprietary data and
consulting services help HR and compensation professionals
automate, streamline and optimize critical talent management
processes including: market pricing, compensation planning,
performance management, competency management and succession
planning. Built with compensation and competency data at the core,
Salary.com solutions provide businesses of all sizes with the most
productive and cost-effective way to manage and inspire their most
important asset � their people. For more information, visit
www.salary.com. About Genesys Founded in 1981, Genesys is a proven
Human Capital Management leader, providing solutions that transform
the workplace and accelerate growth. The Company�s web-based suite,
PeopleComeFirst�, streamlines human resources, benefit
administration and payments, payroll processing, and tax filing.
Primarily implemented as an On-Demand solution, PeopleComeFirst is
also available to third party service providers through the HRO
Partner Program. A trusted advisor committed to superior customer
service, Genesys provides unprecedented choice, flexibility, and
satisfaction to its clients. For more information, visit
www.genesysHCM.com�or call 800-580-5450. Genesys solutions and
services include: � Payroll and Tax Filing � Paycheck Distribution
� HR and Benefits Administration � COBRA Administration � Flexible
Spending Accounts � JCAHO Tracking � Garnishments � Unemployment
Claims Management � Recruitment � Self Services � Year-End Services
Forward Looking Statements This release contains �forward-looking�
statements that are made pursuant to the Safe Harbor provisions of
the Private Securities Litigation Reform Act of 1995. These are
statements that are predictive in nature, that depend upon or refer
to future events or conditions, or that include words such as
�may,� �will,� �expects,� �projects,� �anticipates,� �estimates,�
�believes,� �intends,� �plans,� �should,� �seeks,� and similar
expressions. This press release contains forward-looking statements
relating to, among other things, Salary.com�s expectations and
assumptions concerning future financial performance.
Forward-looking statements involve known and unknown risks and
uncertainties that may cause actual future results to differ
materially from those projected or contemplated in the
forward-looking statements. Forward-looking statements may be
significantly impacted by certain risks and uncertainties described
in Salary.com�s filings with the Securities and Exchange
Commission. The risks and uncertainties referred to above include,
but are not limited to, risks associated with possible fluctuations
in our operating results and rate of growth, our ability to
successfully integrate Genesys into our operations, our ability to
expand our customer base and product and service offerings, our
ability to continue to release and gain customer acceptance of new
and improved versions of our service, successful customer
deployment and utilization of our services, interruptions or delays
in our service or our Web hosting, our business model, breach of
our security measures, the emerging market in which we operate,
performance of acquired businesses, our ability to hire, retain and
motivate our employees and manage our growth, competition, and
general economic conditions and other factors affecting spending by
customers. Salary.com expressly disclaims any obligation to update
any forward-looking statements. SLRY-F
Salary.Com (MM) (NASDAQ:SLRY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Salary.Com (MM) (NASDAQ:SLRY)
Historical Stock Chart
From Jul 2023 to Jul 2024