NEWS & INSIGHTS

PrismHR Acquires Summit Software

Accel-KKR | Feb 01, 2016

Southborough, MA—February 1, 2016—PrismHR, the leading provider of cloud-based HR software for human resource outsourcing (HRO) companies such as professional employment organizations (PEO) and administrative services organizations (ASO), announced that it has acquired Summit Software. Summit is now an operating unit of PrismHR and will continue to provide Summit software and services to Summit customers.

PrismHR works to create the best possible software platform for as many HROs as possible, ultimately helping small and medium-sized businesses get access to HR software to help them thrive. By acquiring Summit, PrismHR will continue to further that mission. Additionally, over time, capabilities of Summit products not currently in the PrismHR platform will help expand the growth of HROs.

“HROs are seeing increased competition on a number of fronts, and the combined company will provide more ways to help HROs retain and acquire business,” said Gary Noke, the president and CEO of PrismHR. “Today’s announcement helps strengthen the PEO and ASO industry and gives Summit customers more options for the future.”

“By joining PrismHR, we now have additional resources so Summit customers can continue to receive Summit software and regulatory updates,” said Sean Flanagan, previously head of Summit Software, and now the executive vice president of the Summit operating unit of PrismHR. “Additionally, Summit clients will have accelerated access to the PrismHR next generation technology platform.”

“Summit joining the PrismHR family brings together a long history of parallel innovation,” said Fred Davison, the founder and executive chairman of PrismHR. “Both organizations have a rich legacy of providing powerful technology to HROs, and this combination facilitates and expands those efforts.”

The Summit operating unit will continue to be located in Little Rock, Arkansas, and will focus on providing ongoing maintenance, regulatory updates and customer support for Summit technology. To learn more about this news, please read the frequently asked questions.

About PrismHR

PrismHR creates exceptional software and services, empowering human resource outsourcing organizations such as Professional Employer Organizations (PEOs) and Administrative Service Organizations (ASOs) to deliver world-class HR, benefits and payroll to small and medium businesses. PrismHR powers more than 64,000 organizations, delivering payroll, benefits and HR to over 1.8 million worksite employees and processing greater than $50 billion in payroll each year. For more information, visit www.prismhr.com.

Media Contact

Keith Knowles, VP Marketing & Product Management

PrismHR

508.747.7261 x 263

knowles@prismhr.com