Empagio Emerges as the "US-Based Payroll Business" and Merges with Workstream

Workstream finally announced the “merger” with the “US-based payroll business” revealing today the suitor as Empagio.  Based on the merger agreement, Empagio will own 75% and Workstream will own 25% of the combined company.  Based on Workstream’s market capitalization, this means Empagio, pre-merger, is valued at over $100 million — a valuation I find expensive especially considering the fragile state of the public markets.

Most importantly, though, my prediction as Empagio being the suitor was right and now it’s time to collect from Phil Fersht, Lisa Rowan, Lexy Martin and Stan Carpenter.  Please make donations directly to the Lance Armstrong Foundation!

February 13th, 2008

6 Comments Add your own

  • 1. Bill Kutik  |  February 13th, 2008 at 6:24 pm

    So glad I didn’t bet against you, Jason. Congratulations for thinking outside the box and getting it right!

  • 2. Dubs  |  February 13th, 2008 at 8:03 pm

    I’m also glad I didn’t bet against you. How did you pull this one out of the hat???

    -Dubs

  • 3. Phil Fersht  |  February 14th, 2008 at 7:39 am

    So who’s next on the block?

  • 4. Lexy Martin  |  February 14th, 2008 at 9:55 am

    Congratulations. Hopefully Empagio will capitalize on the Kadiri diamond within the Workstream portfolio. Now, how much did I bet?

  • 5. Lisa Rowan  |  February 15th, 2008 at 7:20 am

    I’m off to write my check, Jason. Wow, this one had me fooled.

  • 6. Christa Degnan Manning  |  February 19th, 2008 at 9:17 am

    You obviously had a tip! I wouldn’t be surprised if Seth bragged to you himself…

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