TriNet Group completes $4-per-share acquisition of Gevity HR

By Lisa Kerner

Charlotte, N.C., June 1 - TriNet Group, Inc. completed its acquisition of Gevity HR, Inc. to form what TriNet said will be one of the largest human resources outsourcing providers of its kind in the country.

Gevity shareholders will receive $4 per share in cash under the terms of the company's March 5 merger agreement with TriNet.

"Our vision is to capitalize on the deep expertise from both companies in order to equip clients with industry-specific services and solutions, breaking with the 'one size fits all' approach that companies have typically been forced to endure from HR outsourcing providers," TriNet president and chief executive officer Burton M. Goldfield said in a news release.

TriNet is a privately held provider of human resource outsourcing services for small businesses. The company is based in San Leandro, Calif.

Gevity is a Bradenton, Fla.-based provider of payroll, insurance and human resource outsourcing services to small and medium-sized businesses.

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