CINCINNATI ( Cincinnati Business Courier) - Paycor HCM Inc., one of Greater Cincinnati’s largest publicly traded companies, has agreed to be acquired by rival Paychex Inc. in a deal valued at more than $4 billion.

Paycor HCM (NASDAQ:PYCR) may see $27 a share in a potential sale to Paychex (PAYX) after a report that the companies are in takeover talks, according to a Needham analyst. "If the deal is executed, we believe a valuation of 6x - 7x FY25 revenues is likely appropriate and would be nearly a 45% premium on Friday's closing price,

With the acquisition, Paychex’s total addressable market, or TAM, would increase by $10 billion to $100 billion, according to a presentation posted on its investor website. Paychex’s current client base comprises 745,000 customers across the U.S. and Europe for services including payroll, human capital management tools and insurance.