CINCINNATI — Paycor, the Cincinnati-based software company and naming rights sponsor of the Cincinnati Bengals’ home stadium, is being acquired by Paychex, a New York-based company.
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Similar to Paycor, Paychex is a human capital management company that provides technology and software services for businesses, our news partners at WCPO reported.
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Paychex is set to acquire Paycor in an all-cash transaction valuing around $4.1 billion. Both companies’ boards have already approved the agreement of directors and the acquisition is expected to close in the first half of 2025.
Paycor was founded in 1990 and is headquartered in Cincinnati. WCPO reported they recently moved their headquarters into the downtown area.
Paycor signed a 16-year naming rights deal with the Bengals in 2022, officially changing the team’s home stadium from Paul Brown Stadium to Paycor Stadium.
As WCPO reports, it’s still unclear how this acquisition will impact that naming rights deal.
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