HIG Capital (HIG), a global alternative investment firm with over $50 billion of equity capital under management, has sold its portfolio company Salary.com to Accel-KKR. Terms of the transaction have not been disclosed.
Based in Waltham, Massachusetts, Salary.com is a specialist in cloud-based compensation software and data solutions, serving more than 8,000 software subscribers and 60 million employees globally. The company’s software products and analytical capabilities enable enterprises, small businesses, and individuals to be on the cutting edge of compensation trends, best practices, and policies.
HIG acquired Salary.com from IBM Kenexa in December 2015. During HIG’s ownership, Salary.com relaunched its entire product suite, bringing the Company back to category leadership and creating a roadmap for developing the next generation of compensation data, analytics and software. The Company expanded its sales force, creating the highest-performing team in the industry and driving 30%+ annual growth.