Paychex Acquires ICO Time Systems

January 9, 2012 – Paychex, Inc., a provider of payroll, human resource, and employee benefits solutions for small and medium-sized businesses, has acquired Icon Time Systems, Inc., an industry leader in time and attendance solutions for small businesses. Paychex initially partnered with Icon Time Systems in February 2011 for the launch of the Paychex PST 1000 time clock, a system that delivers progressive time and attendance technology to small businesses. Terms and conditions of the deal were not disclosed. “We are pleased to bring Icon Time Systems and its employees on board at Paychex,” said Martin Mucci, Paychex president and chief executive officer. “They've been a great partner over the last year in helping to drive revenue growth with our PST 1000 time clock.”