Belgian HR service provider SD Worx announced that it increased its stake in French SaaS (Software as a service) payroll solution firm GlobePayroll from 40% to 50.01%.

SD Worx first announced that it invested in GlobePayroll last year.

GlobePayroll was established at the end of 2015. The company claims it is the first on the market to offer a global payroll solution operating entirely in the cloud.

In addition to SD Worx acquiring an additional 10.01% of the shares, it is also providing extra funding to accelerate international market expansion and product development.

Both companies also announced that they are launching a new offering together called Global People Services.

“This preconfigured solution will offer payroll staff an integrated administrative experience (Core HR) in 15 European countries as from next January,” SD Worx stated. “Other countries will follow in a second phase. Customers will therefore have an overall overview of their resources, while HR managers will share a solution and identical processes irrespective of the country.”

The four founders and shareholders of GlobePayroll will keep their positions on the board. SD Worx will gain two additional seats. CIO Henri Vanroelen and Thierry Vanbever, International Business Director, will take up these roles. Jean-Luc Barbier has been appointed chairman of the board.

The global leadership and experience of SD Worx, combined with GlobePayroll’s disruptive HR and payroll software, ensures that we can continue to offer the best customer experience available in the market,” Jean-Luc Barbier, Vice-President SD Worx Group and Managing Director SD Worx Global Solutions, said.