SD Worx successfully completes the acquisition of the market leader in Romania in the field of payroll and HR solutions

Leading European provider of HR and payroll solutions, SD Worx, has successfully completed the acquisition of Romanian Software, the Romanian market leader for payroll and human capital management (HCM) solutions. SD Worx previously announced, in December 2023, its intention to acquire Romanian Software.

The transaction was subject to the approval of the Competition Council and received a favorable opinion during April. Both parties officially closed the deal. With this acquisition, SD Worx strengthens its position in Central Europe and expands its own payroll technology offering to domestic and international customers. Romanian Software gains access to SD Worx’s full payroll and HR software and services, as well as its ever-expanding presence throughout Europe. Romania marks the 18th European country where SD Worx has a payroll and HR software.

Kobe Verdonck, CEO of SD Worx: “We are delighted to have officially closed the transaction with Romanian Software. This is an important step in our expansion in Central Europe and confirms our ambition to be the leading European provider of complete HR solutions. We are ready to continue growing, developing on the basis of Romanian Software solutions, their experienced specialists and their solid customer base. We welcome all our new colleagues, we are glad they are joining the SD Worx family.”

“We are very proud that SD Worx counts on us to enter the Romanian market. In the many conversations we had during the process, we felt we had a lot in common in terms of vision, market strategy, values and company culture. We are delighted to support SD Worx in its European growth ambition and look forward to working together to help our customers grow as well”, says Victor Dragomirescu, CEO of Romanian Software

Romanian Software owns colorful.hr, a full suite of in-house developed payroll and HCM solutions. colorful.hr is offered both on-premises and in the cloud, including optional payroll management. Romanian Software has 160 employees, providing support for more than 750 clients and their 200,000 employees. Romanian Software’s clients include Ikea, Starbucks, Louis Vuitton, Rewe, Altex, Cognizant and Pizza Hut. Romanian Software, based in Bucharest, has a local market share of 14% and generated revenues of approximately 6 million euros in 2023.

For this transaction, SD Worx turned to the consulting firms PwC Romania and D&B David si Baias, and Romanian Software to Voicu & Asociații.

About Romanian Software

For over 20 years, Romanian Software has focused its efforts on revolutionizing the way companies manage their most valuable resource – people. Combining extensive experience with advanced technology, we deliver innovative and impactful HR solutions. colorful.hr is a platform developed by Romanian Software, which allows businesses to digitize processes in the field of human resources, a strategic partner for over 750 companies in Romania, offering them expertise in payroll and human capital management solutions. The colorful.hr platform provides a suite of customizable tools that help HR departments monitor performance and support development. The dedication to effective and innovative HR solutions is reflected in our work. Thanks to Romanian Software’s experience and technology, colorful.hr remains a market leader and a catalyst for digital transformation in human resources management.

About SD Worx

In today’s world of flexible working, people want to feel inspired by what they do and have the freedom to focus on what really matters. Organizations need a dynamic and motivated workforce supported by intelligent technology. As a leading European provider of integrated HR solutions, SD Worx turns human resources into a source of value for its clients and their employees. SD Worx provides HR solutions for the entire employee lifecycle, from payroll to attracting, hiring, rewarding and continuously developing the talent that contributes to business success. SD Worx optimizes performance through four core capabilities: software, outsourcing, consulting and data-driven insights. SD Worx is Europe’s leading trusted provider of end-to-end HR solutions for all organizations and employees.

Around 90,000 small and large organizations around the world trust SD Worx and the company’s 75+ years of experience. SD Worx calculates the salaries of approximately 5.7 million employees and ranks among the top five companies worldwide in its field. The more than 7,500 employees work in Belgium (headquarters), Austria, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Ireland, Italy, Luxembourg, Mauritius, Netherlands, Norway, Poland, Romania, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland and Great Britain. SD Worx has achieved a turnover of more than 1 billion euros in 2023.