Glenview-based SurePayroll announced their acquisition by one of their main competitors, Paychex, Inc. on December 9th. According to the Associated Press, SurePayroll was sold for $115 million. SurePayroll got its name for leading the market in providing Software-as-a-Service payroll processing for small businesses, winning Inc. 500′s Fastest Growing Company for two consecutive years and PC Magazine’s Editor’s Choice three times. SurePayroll also recently launched a mobile application allowing easy access to pay stubs while on the move. The expertise of Paychex’s 40 years of experience combined with SurePayroll’s modern, web-based payroll platform approach will ”give Paychex’s customers access to technology that lets them process payroll in minutes through the Internet,” Martin Mucci, President and CEO of Rochester-based Paychex, said to the Associated Press.

“As some small businesses get more comfortable doing business online, and as they demand more control, convenience and online product functionality, we believe the ‘new manual’ method of doing payroll will be the online model Paychex can now offer through SurePayroll,” Mucci said in a statement. And it’s a wise move with millions of small businesses in the United States currently manually processing their payroll on a weekly basis.

With the acquisition taking place by the end of the year (pending regulatory review and other typical closing conditions), SurePayroll’s Michael Alter will keep his position as president, as will the rest of the 160 employees in Glenview. ”This is a great combination of strengths,” Mr. Alter said. “With the help of Paychex’s resources, SurePayroll will continue building upon and accelerate our leadership position in the self-service, (software as a service) payroll space.”

We hope SurePayroll is able to keep their outstanding reputation in customer service through this acquisition, and continues to provide Illinois citizens the opportunity to work at such a great company.

Correction Updated: CEO and President of PayChex is named Martin Mucci, not Michael.