Gusto has agreed to acquire Guideline, a US-based startup that provides retirement plans for small and medium businesses, for around US$600 million, according to a source familiar with the deal.

The exact terms were not disclosed, and both companies declined to confirm the purchase price.

Guideline, founded in 2015, had last been valued at US$1.2 billion in 2021 after raising US$200 million in a series D funding round.

Gusto, valued at US$9.3 billion, has partnered with Guideline since 2015 to offer 401(k) plans to its customers.

🔗 Source: TechCrunch