Corporate Management Solutions

The story of Asure Software is one of evolution through acquisition. The company, which was known as Forgent Networks until 2007, originally started in 1985 in Austin, Texas. A significant shift in its business occurred with the rebranding to Asure Software, which marked a strategic move into Human Capital Management (HCM) solutions. Under the leadership of CEO Pat Goepel, Asure embarked on a path of aggressive growth. The company began acquiring various businesses to build out its product suite. Key acquisitions included iEmployee in 2007, ADI Time in 2011, and Mangrove Employer Services in 2016. This strategy was designed to create a comprehensive platform covering everything from payroll and time tracking to human resources and benefits administration. A pivotal moment in Asure's journey was the acquisition of iSystems LLC in 2017, the creators of the Evolution payroll software. This was followed by the acquisition of Wells Fargo Business Payroll Services' Evolution HCM customer portfolio in 2018, further solidifying its position in the payroll services market. However, the company later sharpened its focus. In a significant strategic move, Asure sold its Workspace Management business to FM:Systems for over $120 million in 2019. This transaction allowed Asure to become a pure-play SaaS HCM company, concentrating its efforts on serving small and midsize businesses with a recurring revenue model.