Zalaris acquires vyble® to offer fully digitised HR and Payroll as SaaS to the German SME market
Zalaris, the provider of Payroll and HR Solutions that simplify work life and support creating sustainable businesses, today announced the acquisition of vyble, a German provider of cloud-based payroll & HR management (SaaS) for the SME market.
vyble is an innovative payroll and HR solution start-up located in Rostock and Hamburg, Germany. vyble has a complete suite of Payroll and HR solutions delivered as Software as a Service (SaaS) with an Annual Recurring Revenue of approximately EUR 1 million, from serving approximately 600 customers with 14 000+ employees. Vyble has around 25 employees.
The vyble suite of solutions include functionalities for employee master data and records, workforce management, recruiting, travel and expenses, benefits administration and next generation payroll.
The company faced short-term financial difficulties when the main shareholder withdrew its financial support, and Zalaris has entered into a definite agreement to acquire the assets of vyble AG through its newly formed subsidiary vyble GmbH. Zalaris will, together with the employees of vyble, continue the development of the vyble cloud platform and with the ambition to become a significant player in the growing market - for fully digitised payroll and HR solutions for SMEs in Germany.
Going forward, the company will operate under the name vyble GmbH with headquarters in Hamburg, and will be headed by Dr. Alexander Tiedtke as Managing Director, who was previously a member of the Executive Board of vyble AG.
"In Zalaris, we have succeeded in finding an extremely capable partner with appropriate industry expertise and an international background” says Dr. Alexander Tiedtke, Managing Director of the new vyble GmbH.
"We see vyble® as a complimentary extension to our portfolio - to cover the overall payroll and HR market in all segments even better in the future. The German SME market including companies with 10-250 employees has an estimated annual value of EUR 1,5 billion" says Hans-Petter Mellerud, CEO and Founder of Zalaris ASA.
"With our multinational experience, we can offer vyble® valuable support for further growth. And, in return we receive innovative impetus from a very dynamic market environment, such as in the area of user experience and compensation optimisation" Mellerud continues.
Contact:
Hans-Petter Mellerud, CEO and founder
Mobile: +47 928 97 276
E-mail: hans-petter.mellerud@zalaris.com
Gunnar Manum, CFO
Mobile: +47 951 79 190
E-mail: gunnar.manum@zalaris.com
About Zalaris
Zalaris simplify HR and payroll administration, and empower you with useful information so that you can invest more in people. We are a leading service provider of Human Capital Management (HCM) solutions across Europe, serving more than 1.5 million employees monthly with an annual revenue of 78 million Euros (2020). We hold #1 or #2 positions in most of our markets. Our consultants have more than 21 years of experience in transforming HR with our clients. Simplify work life. Achieve more.
For more information, please go to zalaris.com.
About vyble
Reinventing payroll. vyble® is the new payroll standard in Germany. With payroll at its core, the entire HR management is automated with the help of intelligent algorithms and thus realized to the benefit of both employers and their employees. Among vyble's customers are hundreds of companies from all industries and of various sizes. The core of the vyble team consists of computer scientists, mathematicians and experts in payroll accounting.
For more information, please got to vyble.io.
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