To support our continued growth and commitment to smart compensation, we announced today that Warburg Pincus, a leading private equity firm focused on growth investing, will be making up to a $100 million investment, and taking a majority stake in PayScale to support the company’s growth initiatives.
We can’t say it will be business as usual, because we plan to start doing even more, to deliver value to you with additional product innovations, services and information to help you tap into and maximize your return on talent. I can tell you, though, that the management team here at PayScale is energized and excited to be working with a financial partner of Warburg Pincus’s caliber and that we are as committed as ever to exceeding your expectations. The transaction is scheduled to close this quarter (Q2 of 2014).
We are especially thankful to our PayScale customers. We couldn’t have become the leading provider of cloud compensation software and data without them.
Learn more about this great news by taking a look at the press release.