Pérez Correa González
Perez Correa Gonzalez represented Group IN-RGY Consulting, a Canadian technology consulting firm, in its expansion plans in Mexico to acquire Ayax.
Group IN-RGY Consulting (IN-RGY), a human resources information system consulting firm, expands its market presence with the acquisition of Iane, S.A. de C.V. (AYAX), the leading partner of Ultimate Kronos Group (UKG) in Mexico.
Pérez Correa González
Canadian technology and human resources management consulting firm IN-RGY has expanded into Mexico with its acquisition of AYAX, the main partner of UKG, a cloud-based human resources management software company, in the country.
The Canadian company seeks to capitalize on the experience and reputation of AYAX through UKG solutions in Mexico.
As such, the decision to expand to the Latin American market is directly in line with UKG’s strategic growth plan, the company said.
IN-RGY said the acquisition represents an important coalition from a functional competency standpoint that reinforces the Canadian consulting firm's positioning through additional development activities in its new Latin American branch.
AYAX's owner, Jaime Lugo, will remain active and will oversee the development of the business.
“AYAX has developed a breadth of experience and significant expertise throughout Dimensions. They also have an accelerated deployment approach for the UK Readysolution, which gives them a clear competitive edge in their market. We believe our company, as well as our current and future clients, will benefit greatly from this” Thierry Bodson, Global COO of IN-RGY, said.
For his part, Lugo said: “We chose IN-RGY to bolster growth in our current market. IN-RGY has built several key business lines, and we were keen to engage in a joint venture so we could expand our UKG practice ever further through the addition of business lines such as SAP, SAP SuccessFactors, and WorkForce Software.”
“I could sense a common business philosophy and shared values from the very beginning. Together, we share a people-first culture,” he added.
Mexican law firm Pérez Correa González represented IN-RGY in the transaction.
“This transaction represents a commitment to human capital in Mexico, and demonstrates the confidence of our US-Mexico-Canada Free Trade Agreement (USMCA) partners in the Mexican market,” Fernando Eraña, M&A partner at Pérez Correa González, said.
“It gives us great satisfaction to advise our clients to achieve their investment objectives in Mexico and we appreciate the trust they place in us,” he added.