SD Worx closes acquisition of Romania’s market leader in payroll & HR solutions

SD Worx, a leading European HR and payroll solutions provider, said that it completed the acquisition of Romanian Software SRL, the market leader in Romania for payroll and Human Capital Management (HCM) solutions. Romania thus becomes the 18th European country in which SD Worx has its own proprietary payroll & HR software.

SD Worx announced its intention to take over the Romanian company in December 2023, and the Competition Council approved the deal in April this year. The parties formally closed the transaction on April 29.

With the acquisition, SD Worx strengthens its position in Central Europe and expands its offering of own payroll technology to domestic and international customers. In its turn, Romanian Software gains access to SD Worx’s complete payroll and HR software and services, and to its expanding presence across Europe, the press release said.

Kobe Verdonck, CEO of SD Worx, said: “It’s great that we have now closed the transaction with Romanian Software. This is an important step forward in our expansion in Central Europe and confirms our ambition to be the leading European provider of end-to-end HR solutions. Building on Romanian Software’s solutions, experienced specialists, and strong customer base, we are ready to continue their growth story.”

Romanian Software develops and markets colorful.hr, a complete suite of in-house developed payroll and HCM solutions, delivered on-premise and in the cloud, with optional managed payroll services. The 160 employees of the company support some 750 Romanian employers and their 200,000 employees. Customers include Ikea, Starbucks, Louis Vuitton, Rewe, Altex, Cognizant, and Pizza Hut.

Romanian Software SRL, headquartered in Bucharest, has a local market share of 14% and generated revenues of about EUR 6 million in 2023.

(Photo source: the company)