TriNet Group, an online payroll services provider with a market value of $5.8 billion, is exploring a potential sale of the company, according to people familiar with the matter.
Founded in 1988, TriNet provides a wide range of human resources services to small and medium-sized businesses, including payroll, compliance and tax credit services. It has nearly 23,000 clients, processing over $70 billion in payroll annually. TriNet shares are up 44 per cent so far this year, significantly outperforming an 11 per cent return in the Russell 1000 index, as its business benefited from companies continuing to hire despite a spike in inflation.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: