Kilkenny, Ireland: Renowned businessman Terry Clune has announced the sale of Immedis, a leading payroll software developer, to UKG, a prominent US multinational. The transaction, confirmed by both companies on Tuesday, is set to be finalized within the next two months.

Immedis, a subsidiary of Clune’s Clunetech group based in Kilkenny, specializes in providing software solutions that streamline payroll management for companies operating across multiple countries and currencies. The company’s innovative technology has gained recognition for its ability to simplify complex payroll processes and ensure compliance with various international regulations.

Clunetech officially confirmed the sale of Immedis to UKG, marking a significant milestone for both entities. The deal will not only impact the future direction of Immedis but also present new opportunities for growth and expansion under UKG’s ownership.

The acquisition will involve the transfer of Immedis’ 374 employees to UKG, ensuring continuity and expertise within the company’s workforce. Additionally, the Irish Strategic Investment Fund (ISIF), a State-owned entity, will also benefit from the deal as it will share in the proceeds generated by the acquisition.

The specific financial terms of the agreement between Clunetech and UKG have not been disclosed publicly. However, the transaction represents a significant milestone for Immedis and highlights the recognition of its value within the payroll software industry.

With UKG’s extensive presence and resources, the acquisition positions Immedis for further growth and development. The strategic partnership is expected to leverage UKG’s global reach and industry expertise to propel Immedis to new heights, while also contributing to the evolution of payroll management solutions.

As the deal progresses towards completion, stakeholders and industry observers will closely monitor the transition and assess the impact on Immedis’ operations and market position. The acquisition serves as a testament to the achievements of Terry Clune and the Clunetech group, highlighting their ability to cultivate successful businesses and pursue opportunities that drive value for employees, investors, and the broader business community.

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