ECI to Become Vibe HCM Inc. Following Acquisition of cFactor Works Inc.
Electronic Commerce Inc. to Become Vibe HCM Inc. Following Acquisition of cfactor Works Inc.
CHARLOTTE, N.C. – Electronic Commerce Inc. (ECI), a leading SaaS payroll and HR provider, today announced it has acquired cfactor Works Inc. and its award-winning product suite Vibe HCM in a move that will create an end-to-end human capital management solution to serve its primary client base of mid-market employers as well as a growing roster of enterprise-level customers.
The acquisition combines the expertise ECI has developed over more than 20 years in serving the core payroll, transactional and compliance needs of its clients with Vibe’s unique focus on the employee experience. Vibe HCM is currently being used to recruit, manage, connect and inspire employees in multiple languages across 29 different countries.
The combined organization will be known as Vibe HCM Inc. Todd Tyler, chief executive officer of ECI, will become CEO of Vibe HCM Inc. and Cary Schuler, founder and CEO of cfactor Works Inc., will serve in the role of senior vice president of marketing.
“Combining ECI and cfactor Works is exciting news for the HCM marketplace because Vibe HCM will be able to offer one unified platform that delivers on employers’ HR transactional needs as well as their strategic employee engagement initiatives,” said Tyler. “We look forward to working with Cary and the talented cfactor Works team to leverage the complementary strengths of our organizations.”
“With Vibe products, cfactor has approached the HCM space from the perspective of developing easy-to-use HR technology designed to uniquely engage, enhance productivity and deliver value to each and every employee,” said Schuler. “We are excited about the opportunity joining forces with ECI presents to set a new standard with a highly differentiated technology solution for the HCM marketplace.”
Vibe HCM Inc. will retain ECI’s Elkhart, Indiana headquarters and Dallas office, and add all of cfactor’s operational locations.
The acquisition was completed with the support and financial backing of Frontier Capital, a Charlotte, North Carolina-based growth equity firm that is ECI’s principal investor.
About Vibe HCM Inc.
As a leading HCM technology and services provider, Vibe HCM Inc. is redefining HR software expectations for hundreds of thousands of employees. Vibe HCM’s unique focus on delivering both transactions and engagement in one unified platform sets a new standard for HR technology.
For additional information visit www.vibehcm.com or follow @vibehcm.