Dayforce

Last updated

Dayforce, Inc.
FormerlyCeridian HCM Holding Inc.
Company type Public
IndustrySaaS HCM Software
Predecessor Control Data Corporation
Founded1992;32 years ago (1992)
Headquarters Minneapolis, Minnesota, U.S.
Key people
David Ossip (CEO)
RevenueIncrease2.svg US$1.51 billion (2023)
Increase2.svg US$133 million (2023)
Increase2.svg US$54.8 million (2023)
Total assets Increase2.svg US$9.01 billion (2023)
Total equity Increase2.svg US$2.40 billion (2023)
Number of employees
9,084 (2023)
Website dayforce.com
Footnotes /references
[1]

Dayforce, Inc., formerly Ceridian, is a provider of human resources software and services with employees across its global footprint in the United States, Canada, Europe, Middle East, Africa (EMEA), and the Asia Pacific Japan (APJ) region. It is a publicly traded company on the New York Stock Exchange and Toronto Stock Exchange.

Contents

Dayforce is also the name of the company's cloud Human Capital Management (HCM) platform, which covers the full suite of human capital management software, including payroll, tax filing, benefits, HR, talent intelligence, workforce management, and recruiting technology. [2]

History

Dayforce, formerly Ceridian, [3] is a descendant of Control Data Corporation (CDC). In 1992, Ceridian Corporation was founded as an information services company from the restructuring of CDC, a computer services and manufacturing company founded in 1957. [4] [5] The computer product business was spun-off as Control Data Systems (CDS) and took the Control Data name.

In March 2001, Ceridian was split into two independent companies, with the "old" Ceridian Corporation changed its name to Arbitron and the rest of company (consisting of human resources services and Comdata business) took the Ceridian name. [6]

In 2007, Ceridian was acquired for $5.3 billion USD by Thomas H. Lee Partners and Fidelity National Financial (FNF). [7] Ceridian common stock ceased trading on the NYSE before commencement of trading on November 9, 2007 and was delisted from the NYSE. [8]

In March 2012, Ceridian completed its acquisition of Dayforce, a single SaaS application for HR, payroll, tax, benefits, workforce management, talent management and several related activities. [9] In October 2013, Ceridian announced the legal separation of its Human Capital Management and payments businesses. [10] Ceridian completed the separation on October 1, 2013 through a series of transactions, which resulted in the payments business being operated as Comdata Inc. (“Comdata”), and the HCM business being operated as Ceridian HCM Holding Inc. (“Ceridian HCM”). [11]

David Ossip, Chief Executive Officer of Dayforce, became CEO of Ceridian HCM in February 2013. [9]

In April 2018, Ceridian went public in an initial offering that raised over $400 million. [12] [13]

In September 2019, Ceridian acquired Australia-based enterprise workforce management solutions provider Riteq. [14]

In April 2020, Ceridian acquired an Asian HCM (Excelity Global Solutions). [15]

On March 1, 2021, Ceridian completed the acquisition of Ascender HCM. [16]

On February 1, 2024, Ceridian transitioned the company’s brand to Dayforce [17] and its ticker symbol to DAY on the New York Stock Exchange and Toronto Stock Exchange. [18] This replaced the company’s previous ticker symbol, CDAY, which had been in use since the company’s initial public offering in 2018.

Leadership

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References

  1. ↑ "Ceridian HCM Holding Inc. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 28, 2024. pp. 8, 52–53.
  2. ↑ "Dayforce | Your global people platform". www.dayforce.com. Retrieved February 1, 2024.
  3. ↑ "Dayforce - Newsroom | Dayforce". www.dayforce.com. Retrieved February 1, 2024.
  4. ↑ Richard, Michael A. (2009). Employee Assistance Programs: Wellness/Enhancement Programming (4th ed.). Charles C. Thomas Publisher. p.  76. ISBN   978-0398085612.
  5. ↑ Enterprise, I. D. G. (September 6, 1993). Computerworld. IDG Enterprise.
  6. ↑ "ARBITRON INC (Form Type: 8-K, Filing Date: 03/30/2001)". edgar.secdatabase.com. Retrieved April 25, 2023.
  7. ↑ Berenson, Alex (May 31, 2007). "Ceridian to Be Taken Private in $5.3 Billion Deal". The New York Times. ISSN   0362-4331 . Retrieved May 18, 2016.
  8. ↑ Carissa Wyant (November 9, 2007). "Ceridian sale closes". www.bizjournals.com. Retrieved December 16, 2021.
  9. 1 2 3 "Ceridian primes customers to embrace cloud HCM". diginomica. March 6, 2015. Retrieved May 18, 2016.
  10. ↑ "Business briefing, Saturday, Oct. 5". Twin Cities. October 4, 2013. Retrieved January 5, 2018.
  11. ↑ "Ceridian Forms Separate HCM and Payments Businesses | @CloudExpo". cloudcomputing.sys-con.com. Archived from the original on January 6, 2018. Retrieved January 5, 2018.
  12. ↑ "Ceridian HCM Holding completes largest IPO in Minnesota". Star Tribune. Retrieved January 28, 2020.
  13. ↑ "Software Maker Ceridian Tops IPO Range to Get $462 Million". Bloomberg.com. April 25, 2018. Retrieved September 7, 2020.
  14. ↑ "Ceridian acquires Australia-based enterprise workforce management solutions provider". www2.staffingindustry.com. Retrieved April 9, 2020.
  15. ↑ "Ceridian offers agile SaaS solutions for engagement, recruitment and payroll". www.hcamag.com. Retrieved June 15, 2023.
  16. ↑ "Ceridian acquires Australia-based Ascender HCM". www.ascenderhcm.com (Press release). March 2021. Retrieved March 3, 2021.
  17. ↑ "Dayforce - Newsroom | Dayforce". www.dayforce.com. Retrieved February 1, 2024.
  18. ↑ "Dayforce - Newsroom | Dayforce". www.dayforce.com. Retrieved February 1, 2024.
  19. ↑ Smith, Buckley (February 11, 2020). "Ceridian says it plans to create 2,000 jobs in Canada over five years". IT World Canada. Retrieved February 13, 2020.

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