Paychex Is Said to Be in Talks to Buy Smaller Rival Paycor

(Bloomberg) — Paychex Inc. is in advanced talks to acquire Paycor HCM Inc., a smaller rival in the payroll processing industry, according to people with knowledge of the matter.

Most Read from Bloomberg

If the talks are successful, and they could still fall apart, a deal could be announced as soon as this week, said the people, who asked not to be identified because the matter is private.

Representatives for Paychex and Paycor did not return requests for comment after regular business hours on Sunday.

At the close of trading in New York on Friday, Paycor’s largest shareholder is an entity controlled by private equity firm Apax Partners, according to data compiled by Bloomberg is from the comments.

The potential acquisition would mark the largest deal to date for Rochester, New York-based Paychex, which has a market value of $50 billion.

– Assisted by Ryan Gould.

The most read from Bloomberg Businessweek

©2025 Bloomberg LP