WRKR (ASX:WRK) has announced a binding agreement to acquire 100% of PaidRight, a leading Australian payroll compliance platform.
The acquisition is a key component of WRKR’s Phase 2 growth strategy, expanding the company's focus beyond superannuation into payroll compliance.
PaidRight, born from CSIRO's Data61 RegTech team and PwC Ventures, has spent nearly a decade developing a sophisticated real-time pay compliance engine that interprets complex Australian wage laws and awards.
Its technology has processed $15 billion in wages across more than 500,000 employees, offering employers proactive, accurate compliance solutions through health checks, remediation projects, and its Pay Precision tool.
The combination of WRKR's scale and superannuation expertise with PaidRight’s advanced payroll compliance technology is expected to create a seamless, end-to-end compliance solution for millions of Australian workers and employers.
PaidRight will initially operate as a standalone entity while integration plans progress, targeting a fully integrated WRKR–PaidRight solution by Q3 2026.
The acquisition, valued at approximately $11.4 million based on WRKR’s 20-day VWAP as of Dec. 18, is subject to shareholder approval expected at a general meeting in early 2026.
PaidRight shareholders will receive 90,909,091 WRKR shares, representing around 4.8% of WRKR's current issued capital.
WRKR CEO Trent Lund, a co-founder of PaidRight, said the acquisition accelerates the company’s growth trajectory and strengthens its mission to simplify compliance across the pay cycle, combining innovative technology with proven industry expertise to benefit Australian employers and employees alike.