This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Paychex Expands Into Latin America Through Joint Venture With Semco Partners

Paychex, Inc., a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small and medium-sized businesses (SMBs), and São Paulo-based Semco Partners today announced a joint venture agreement to expand Paychex’s services into Brazil.

Semco Partners is a portfolio management and investment company with a proven track record of helping market-leading businesses successfully enter the Brazilian market.

Paychex president and CEO Martin Mucci says Paychex’s decision to expand its payroll and human resource services business into Brazil represents a key component of Paychex’s growth strategy: product expansion through new markets.

“Brazil is the right place for Paychex’s first Latin American expansion for a number of reasons. It has a vibrant market of approximately five million small businesses that account for about 40 percent of the wages paid in Brazil. Also, recent and upcoming regulatory changes there increase the opportunity for outsourcing payroll and other HR services,” Mucci says. “The availability of an experienced partner in Semco that has helped other U.S.-based businesses enter the Brazilian market means we begin with valuable knowledge of the country.”

“Brazil’s small- to mid-sized business market is underserved in many ways, despite a lot of outsourcing activity at larger companies,” Semco Partners managing partner and CEO Alexandre Bonfim de Azevedo says. “We identified the SMB sector as having considerable potential. In fact, a wave of regulatory changes is building positive momentum for outsourced payroll services to make real headway in the market.

“With industry-leading expertise, Paychex is the perfect company to capitalize on this opportunity,” Azevedo adds. “Our research disclosed their interest in international expansion, which dovetailed wonderfully with our strategy: to identify business opportunities in Brazil and match those opportunities with the top players in each field worldwide. Paychex’s expertise, commitment, and dedication to our joint venture make them an ideal partner.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs