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Welsh Carson lines up exit for Paycom Software with plans to go public

12 Mar 2014

Private equity-backed HR software company Paycom Software has filed for an IPO on the New York Stock Exchange.

The company is backed by Welsh, Carson, Anderson & Stowe, which invested $56m in July 2007 for a majority stake, the first deal from its $3.7bn 11th fund.

The number of shares to be offered and the price range for the proposed offering have not yet been determined, it said.

Barclays Capital Inc. and J.P. Morgan Securities LLC are acting as joint book-runners for the offering. Pacific Crest Securities, Stifel, Nicolaus & Company, Incorporated and Canaccord Genuity. are acting as co-managers.

Oklahoma City-based Paycom provides human capital management technology, including payroll and HR services.

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