Gusto, a startup with payroll and human resources software, said Wednesday that it has agreed to acquire Guideline, a startup specializing in corporate retirement plans. Terms of the deal weren't disclosed.
Founded in 2011 and based in San Francisco, Gusto is among the world's most valuable companies backed by venture capitalists, with a $9.3 billion valuation.
Gusto originally was named ZenPayroll and provided software that clients could use to run payroll for their employees. In 2015, the company rebranded to Gusto as it started selling health insurance and workers' compensation.
Since 2016, Gusto has also offered 401(k) retirement plans through a partnership with Guideline. The relationship isn't exclusive, though. Organizations can also set up Guideline plans through alternative payroll companies, including ADP , Block , Intuit , Paylocity , TriNet and privately held Rippling.
Those integrations won't be going away after the acquisition closes, Guideline's co-founder and CEO, Kevin Busque, said in an interview with CNBC.