AIX-EN-PROVENCE, France & LONDON--(BUSINESS WIRE)--Silver Lake, the global leader in technology investing, today announced that it has completed the acquisition of 100% of Silae, a specialist provider of cloud-based payroll and HR software for the French market, from its founding shareholders.
The transaction, announced on July 8, 2020, has received the approval of the French antitrust authority. Silae’s governance has been modified to reflect the new shareholding structure and Christian Lucas, Co-Head of Silver Lake EMEA, has been appointed Chairman of the Board.
Silver Lake is planning to invest meaningfully into Silae and support it in its next phase of development as the company is well-positioned to further accelerate its growth, through innovative new products and services.
Founded in 2010 and headquartered in Aix-en-Provence, France, Silae is a provider of cloud-based Payroll and HR software, offering a broad range of solutions to more than 550,000 businesses in partnership with its strong network of CPA and HR outsourcing partners. The company’s core SaaS product line Silaexpert enables full automation of complex payroll and HR processes, ensuring full adherence with constantly evolving labour and tax regulations in France and facilitating seamless communication and data exchange between outsourcing partners and customers in a highly collaborative environment. For more information, please visit silaexpert.fr.
About Silver Lake
Silver Lake is a global technology investment firm, with more than $60 billion in combined assets under management and committed capital and a team of investment and operating professionals based in Menlo Park, New York, London, Hong Kong, Cupertino and San Francisco. Silver Lake’s portfolio of investments collectively generates more than $180 billion of revenue annually and employs 295,000 people globally. For more information about Silver Lake and its portfolio, please visit silverlake.com.