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Paychex acquires Denmark-based human capital management solutions provider

Paychex Inc. has acquired Lessor Group, a provider of payroll and human capital management software solutions.

Lessor has 140 employees, which will continue their employment with the Lessor group, now part of the Paychex organization. Following the acquisition, Lessor Group CEO Peter Colsted became managing director of Paychex's European operations.

Lessor Group is headquartered in Denmark and serves clients in northern Europe.

Terms of the acquisition were not disclosed.