Fast-growing payroll provider Deel has acquired Hofy, a London-based company specializing in managing office equipment for remote hires. The acquisition, valued at over $100 million, marks Deel's third significant acquisition this year. This strategic move aims to integrate Hofy's services into Deel's platform and lay the foundation for a new IT management product, Deel IT. The forthcoming product will offer comprehensive IT solutions, including software provisioning, app access management, device lifecycle management, and integrations with mobile device management and identity tools. Hofy's co-founders and team will join Deel to develop Deel IT, ensuring a seamless transition for existing customers. This acquisition aligns with Deel's goal of becoming a one-stop-shop for HR services and scaling businesses globally. With a valuation exceeding $12 billion and significant recent acquisitions, Deel continues to expand its dominance in the payroll management market.



San Francisco, CA – July 18, 2024 – Fast-growing payroll and HR platform Deel is thrilled to announce its acquisition of Hofy, a London-based leader in device supply and management. This strategic acquisition, valued at over $100 million, marks Deel’s third major acquisition this year and paves the way for the launch of Deel IT, an innovative end-to-end global IT services platform.

Addressing the HR and IT Conundrum

In today’s rapidly evolving business landscape, managing a global HR function has become increasingly complex. HR leaders must navigate constantly changing local hiring and payroll regulations, design global performance management programs, and coordinate intricate onboarding and hardware logistics with IT partners. Recognizing these challenges, Deel aims to consolidate tools for HR and IT leaders, alleviating one significant burden.

Deel co-founder and CEO Alex Bouaziz emphasized, “We’re acquiring Hofy to provide our global customers with best-in-class IT services and device lifecycle management, alongside our comprehensive suite of EOR, global payroll, contractor management, immigration, and people management tools. This acquisition is a significant step towards our goal of becoming the world’s most comprehensive HR and payroll platform.”



The Hofy Advantage

Hofy has distinguished itself as the leading device supply and management company globally, offering unparalleled coverage and infrastructure across 127+ countries. With a 99% on-time delivery rate and 24/7 industry-leading customer service, Hofy provides full end-to-end IT lifecycle management, including device delivery, collection, repair and replacement, employee onboarding and offboarding, device security, pre-configuration, and data erasure. Notable customers include Canva, Forbes, Fujitsu, GoDaddy, and HelloFresh.

Over the past 2.5 years, Deel has relied on Hofy to manage its fully remote, global team of over 4,000 members across 20+ time zones. This partnership has facilitated the shipment of an estimated 5,000 devices to 98 countries. Deel’s experience as both a customer and partner of Hofy highlighted Hofy’s exceptional global scale, expertise, and customer service, making the decision to officially join forces a natural progression.



Introducing Deel IT

With Hofy’s integration, Deel is set to launch Deel IT, an end-to-end global IT services platform. Deel IT will offer a suite of services, including software provisioning, app access management, and integrations with mobile device management (MDM) and identity tools. This platform will enable customers to oversee their entire IT setup, manage complex shipping, procurement, and device management globally from a single platform with just a few clicks. Fully integrated within Deel, Deel IT will also be interoperable with any HRIS, including Workday and HiBob, making Deel the first HR and payroll company to offer such a robust in-house solution.

Bouaziz stated, “Later this year, we will launch Deel IT in all markets. In the meantime, customers can continue using Hofy and seamlessly transition to Deel IT with all their existing data intact. We started Deel with a core expertise in global hiring and payroll, but we’ve been listening to our customers and continuously adding new products and services to help ease the pain points associated with building, scaling, and managing global teams. We’re thrilled to add this new service to our ever-expanding platform and can’t wait for our customers to experience Deel IT.”



About Deel
Deel is a leading global payroll and HR platform, simplifying international hiring and payroll compliance. With a focus on innovation and customer-centric solutions, Deel serves over 35,000 customers worldwide, helping businesses manage their global workforce efficiently and compliantly.