SD Worx acquires HRPRO and enters Southeastern Europe
7 July 2022
The leading European Payroll and HR provider SD Worx has acquired HRPRO, an HR tech company located in Zagreb, Croatia. With this acquisition, SD Worx expands its local presence to 18 European countries and enters Southeastern Europe, where it sees a lot of growth potential.
The family owned company HRPRO has been operating successfully for over twenty years across Croatia, Slovenia, Central Europe and Southeastern Europe including Serbia, Bosnia and Herzegovina, Macedonia and Bulgaria. It currently employs over 60 people and realised a revenue of EUR 3.1 million in 2021. HRPRO provides continuous development, implementation and maintenance of ‘HRNET’, a self-developed multi-lingual full HR software solution that includes functional modules for Core HR, Payroll, Time & Attendance, Talent, Learning & Development, Recruitment, and Travel & Expenses with over 250,000 active users in 16 countries. HRPRO has more than 130 customers, large regional and international companies, both in the public as well as in the private sector.
“SD Worx has a clear strategy to be the leading payroll and HR provider in Europe. With this acquisition we expand our European footprint to Southeastern Europe and strengthen our portfolio of own payroll & HR software. This is a unique opportunity to enter the Balkan region and market. With HRNET we are now getting our own intellectual property in new payroll countries with a strong international and regional customer base. We see a lot of opportunities as many local companies are growing, and international employers are moving activities to the region, thus creating interesting macro-economic drivers. Being present and successful in this region is therefore very much in line with our strategy”, says Kobe Verdonck, CEO of SD Worx.
“Joining SD Worx allows us to accelerate our growth plans in Croatia, Central and Southeastern Europe and to further expand our offering. At the same time we will get access to the countries where SD Worx is already active today. It goes without saying that we will guarantee business continuity for our employees and our customers. We strongly believe that customers of both companies will benefit from this acquisition through our expanded offering and footprint. SD Worx is a healthy and ambitious organisation, that is continuously investing in the future of its customers and employees and we look forward to establishing good collaboration, sharing knowledge and experiences and raising innovation capacity”, says Jasmina Lukačević, General Manager of HRPRO.
The price of the acquisition will not be disclosed.