PAYC
- Paycom Software Inc
(NYSE
)
Paycom Software
Overview
Company Summary
Paycom Software, Inc., known simply as Paycom, is an American online payroll and human resource technology provider based in Oklahoma City, Oklahoma with offices throughout the United States. It is attributed with being one of the first fully online payroll providers. It has been recognized by Fortune and Forbes as one of the fastest-growing publicly traded companies in the world, and as one of the World's Most Innovative Enterprise Companies by Fast Company in 2022. Founded in 1998, it reported annual revenue of $1.375 billion for 2022, up from $1.06 billion for 2021.
OceanTech Acquisitions I Corp. (OTEC) is a special purpose acquisition company (SPAC) that was formed for the purpose of acquiring or merging with one or more businesses. SPACs serve as a vehicle for companies to go public without undergoing the lengthy and traditional initial public offering (IPO) process.
In the case of OceanTech Acquisitions I Corp., their primary objective is to identify an operating business to acquire and take public through a merger or acquisition. The target company they choose will typically have strong growth potential, a proven business model, and an attractive market position.
Once OTEC identifies a target company, they enter into negotiations and conduct due diligence to determine the viability and compatibility of the potential acquisition. If successful, the transaction is completed, and the target company becomes a publicly-traded entity through the merger with OTEC.
As a SPAC, OceanTech Acquisitions I Corp. primarily focuses on leveraging its expertise, network, and financial resources to identify and execute a compelling acquisition opportunity. Their goal is to provide value to their shareholders by acquiring and transforming a private company into a successful publicly-traded entity.
It's important to note that the specific industry or sector in which OTEC will seek its target company can vary. The company may have a specific focus area or may seek opportunities across various industries based on market trends, economic conditions, and investment opportunities.