• Integrated HRM software provider Gusto announced the acquisition of early-stage remote hiring start-up Remote Team. The terms of the deal were not disclosed, but Gusto’s CEO Josh Reeves revealed that the purchase included a mix of stock and cash. 

• Remote Team offers automated payroll for remote teams globally to simplify remote worker payments for clients. In addition, HR solutions such as approval of vacation requests, sick leave, and personal leave can be managed within the platform. The platform reduces admin burden by collecting, validating, and storing digital tax forms to handle tax compliance. 

• Gusto also announced that its platform now supports contractor payments in 80 countries and quick tax registration in all US states. Gusto also plans to support international contractor payments in around 100 countries by the end of 2021.

<ul><li> Analyst QuickTake : Leveraging the acquisition, Gusto intends to cater to the growing demand for remote hiring from its 200,000+ SME clients. Its in-house developments such as earned-wage access and digital wallets for independent contractors complement Remote Team’s solutions. Gusto’s growth strategy is well documented, this is the company’s third in the payroll software space, including the acquisition of tax compliance software provider Ardius in June 2021. Gusto recently closed a Series E round worth USD 175 million, valuing the company at USD 9.5 billion.</ul>