Deel Inc., a San Francisco-based global payroll and compliance firm, announced Monday it completed the acquisition of PayGroup Ltd., a Melbourne, Australia-based payroll and human capital management company, for AU$121 million, or US$80.32 million.

The deal was first announced in June.

With the acquisition, PayGroup is now part of Deel and has been delisted from the Australian Stock Exchange. All team members of PayGroup have joined Deel.

Founded in 2017, PayGroup has a presence in Australia, New Zealand, India, the Philippines, Singapore, Malaysia and Japan.

“Together, we are building the first truly global solution in the payroll and HCM industry, giving businesses around the world the ability to hire, pay, and manage the best talent, no matter where they’re located,” Deel co-founder and CFO Philippe Bouaziz said.

“The completion of the acquisition scales our payroll and HCM expertise, expands our customer base in the region, and reinforces our leadership in the global payroll space.”

The combined company, with payroll coverage in more than 90 countries, plans to announce a new merged version of its software solution in H1 2023.

Deel was founded in 2019 and raised a $425 million funding round in October 2021.