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Paychex bets on temporary staffing growth

from CFO

Payroll services provider Paychex said Wednesday it had agreed to acquire Advance Partners in a bet on growth in the temporary staffing industry. Advance Partners works with more than 7,500 temp agencies, offering services including payroll funding, invoicing and tax preparation. Terms of the deal were not disclosed. According to a news release announcing the merger, there are more than three million temporary employees in the United States, with about 10,000 small and mid-sized staffing businesses providing support for them. more

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