Arma Partners advises Planday, a leading SaaS workforce management platform provider, on its €183.5 million sale to Xero
Arma Partners is pleased to announce that it has acted as exclusive financial advisor to Planday on its sale to Xero for a total consideration of up to €183.5 million, with an upfront payment of €155.7 million and subsequent earnout payments of up to €27.8 million.
Founded in 2004 and headquartered in Copenhagen, Denmark, Planday is a leading workforce management platform provider with more than 350,000 employee users across Europe, which simplifies employee scheduling, allowing businesses to forecast and manage their labour costs. Planday’s open platform integrates with Xero, other accounting solutions and third-party workforce-related apps, to deliver a real-time view of staffing needs and payroll costs as well as key business performance metrics. Planday’s cloud-based technology also offers significant flexibility and self-service functionality through a mobile app.
Aligned with Xero’s strategic priority to grow its small business platform, the acquisition of Planday will ultimately help more small businesses save time and money, deal with increasing compliance requirements, support more flexible forms of work and look after their people. Following the acquisition, Planday will also expand its presence into new markets where Xero has existing operations, supporting Xero’s long-term growth plans.
This transaction highlights Arma Partners’ successful track record of working with cloud-native SaaS category leaders and executing landmark cross-border transactions involving global strategic buyers.