Deel, the all-in-one HR solution for global teams, announced today that it is acquiring PaySpace, the African-based payroll and HR company with operations in 44 countries. The deal will make Deel the first global payroll and Employer of Record (EOR) with its own full-stack payroll engine localized in 50 countries and integrated into its offering.

Deel helps companies simplify every aspect of managing an international workforce, from culture and onboarding, to local payroll, compliance and now, people management. It owns 120+ country entities and manages in-house, in-country payroll teams, in addition to offering EOR, contractor, immigration and HRIS services worldwide.

PaySpace has more than 20 years of payroll technology experience, providing payroll engines and HR services for more than 14,000 customers, including multinationals across various industries. Its size, expertise, and proprietary disruptive payroll technology give it unrivaled scale and reach.

By acquiring PaySpace, Deel will be able to give its customers a simple and single interface to manage their global teams, with greater efficiency and control, faster payroll cycles, more localized compliance insights, and the ability to make changes to their payroll at any time.

The news follows Deel’s acquisition of leading APAC payroll provider PayGroup and Zavvy, a people-enablement platform. Deel now owns the full HR stack: entities, local teams (legal, HR, payroll), and local payroll engines across six continents. Its four-year ambition is to serve 100 countries with native payroll engines, and this acquisition is a significant step toward that goal.

Deel also announced today that it has achieved $500M+ in annual recurring revenue organically, outside of this acquisition. In under five years, the company has grown to 3,000+ team members in more than 100 countries. It has been EBITDA positive and consistently generating cash for a year and a half.

Deel co-founder and CEO Alex Bouaziz said, “Global payroll is hard to do and critical to get right. As a company, you want assurances you can pay your teams on time, compliantly, anywhere in the world. PaySpace’s single-platform payroll expertise and breadth of coverage, particularly in Africa and the Middle East, combined with PayGroup’s presence in APAC, will give Deel customers the reach they need to grow their businesses globally. Our long-term vision is to be the most comprehensive payroll system in the world.”