Sage buys CakeHR
Sage, a provider of enterprise resource planning and accounting software, has acquired CakeHR, a U.K.-based HR technology company whose solutions are all cloud-native. The buy adds to Sage Business Cloud, bolstering the company’s native cloud offering for small businesses.
CakeHR will continue to serve its global customers, before being offered to Sage’s existing customers in the U.K. in 2020. Its team of staff will join Sage upon close of the deal. Financial terms of the deal were not disclosed.
CakeHR serves users globally. Some of its software features include leave management, automation of employee onboarding, management of expenses approvals and paying employees. It also keeps track of local legislation so users can stay compliant.
CakeHR has an open application programming interface, allowing other apps and platforms to integrate with its software. In particular, it can now be interfaced with applications from the Sage marketplace, as well as with Sage’s Payroll solutions.
“Building and acquiring great technology to help accountants and businesses focus on what matters most is a critical part of Sage becoming a great SaaS company,” said Lee Perkins, chief product officer at Sage, in a statement. “CakeHR provides easy-to-use cloud-based HR services that help businesses drive productivity and provide great experiences for their people. As with our recent acquisition of AutoEntry, we have been hugely impressed with the people and technology at CakeHR, particularly their ability to enable employees to self-manage, and are delighted to welcome them to Sage.”
“By combining our experience and expertise with Sage, CakeHR will be able to further its vision of providing an easy-to-use, powerful, and always-accessible HR platform to any organization … HR deserves better. HR must be simplified. Joining the ranks of Sage has brought us closer to that goal than ever before,” added Kaspars Upmanis, CEO of CakeHR.