Asure Bundle
Who Owns Asure Software?
Understanding Asure Software's ownership is key to grasping its strategic direction. The recent acquisition of Lathem Time for $39.5 million on July 1, 2025, underscores how ownership changes impact market position.
Asure Software, founded in 1985, has grown into a significant player in the Human Capital Management market. Its comprehensive platform, including payroll and tax, HR management, and time and attendance, serves small to mid-sized businesses.
Who owns Asure Software?
Asure Software's ownership structure is a blend of institutional investors, public shareholders, and potentially insiders. As of July 30, 2025, the company's market capitalization stood at $281.86 million. The company's total revenues reached approximately $119.4 million in 2023, with continued growth anticipated for 2024. This expansion is fueled by its offerings, such as the Asure BCG Matrix, aimed at simplifying HR processes.
Who Founded Asure?
The origins of the company now known as Asure trace back to 1985 with the establishment of Forgent Networks. While specific details regarding the initial equity distribution among the founding team of Forgent Networks are not publicly disclosed, the company's foundation was laid in Austin, Texas. Its growth trajectory, particularly after rebranding and expansion, was significantly influenced by public market access and debt financing, supporting an acquisition-driven strategy within the human capital management sector.
Founding Year
The company's lineage began in 1985 with the formation of Forgent Networks.
Initial Location
The company was founded in Austin, Texas, establishing its initial operational base.
Early Growth Strategy
Growth was fueled by public markets and debt financing, enabling an acquisition-focused approach.
Key Acquisitions
The acquisition of NetSimplicity in 2007 was a notable early move, focusing on scheduling and asset management software.
Strategic Focus Shift
These early acquisitions helped shape the company's eventual specialization in human capital management solutions.
Founding Ownership Details
Specifics on initial equity splits or early ownership disputes among founders are not publicly detailed.
Key individuals played significant roles during the company's evolution from Forgent Networks to Asure Software and its subsequent expansion. The acquisition of NetSimplicity in 2007, which included software for room scheduling and fixed asset management, marked a strategic step; this division was later divested in 2019. These foundational strategic decisions and acquisitions were instrumental in establishing Asure Software's current focus on human capital management solutions. Information concerning early agreements such as vesting schedules, buy-sell clauses, or any initial ownership disagreements among the founding members of Forgent Networks is not readily available in recent public filings, making it difficult to ascertain the precise early Asure company ownership structure.
Early Company Profile
The company's history is marked by strategic acquisitions and a shift towards human capital management. Understanding this history is key to grasping the current Asure company ownership.
- Forgent Networks founded in 1985.
- Initial operations based in Austin, Texas.
- Acquisition of NetSimplicity in 2007.
- NetSimplicity division spun off in 2019.
- Focus evolved to human capital management (HCM).
- Early ownership details are not publicly disclosed.
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How Has Asure’s Ownership Changed Over Time?
Asure Software, Inc. is a publicly traded company on Nasdaq under the ticker ASUR, indicating its ownership is distributed among a broad base of shareholders. The company's strategic acquisition approach has significantly influenced its current ownership structure and operational focus.
| Shareholder Type | Percentage of Ownership (as of July 30, 2025) | Value (as of June 10, 2025) |
|---|---|---|
| Institutional Shareholders | 77.73% | N/A |
| Insiders | 7.02% | N/A |
| Retail Investors | 0.00% | N/A |
As of July 30, 2025, institutional investors hold the vast majority of Asure Software's shares at 77.73%, with insiders accounting for 7.02%. Retail investors currently hold no stake. Key institutional stakeholders include Private Capital Management, LLC, Needham Aggressive Growth Fund Retail Class (NEAGX), Needham Investment Management LLC, Janus Henderson Group PLC, Janus Henderson Venture Fund Class T (JAVTX), BlackRock, Inc., Vanguard Group Inc, Dimensional Fund Advisors Lp, Vanguard Total Stock Market Index Fund Investor Shares (VTSMX), and Swedbank AB. David Sandberg stands out as the largest individual shareholder, possessing 5.23 million shares, which equates to 19.27% of the company and a value of $52.53 million as of June 10, 2025. Other significant insider shareholders are Red Oak Partners LLC (15.19% with 4.12 million shares), Isystems Holdings LLC (9.40% with 2.55 million shares), Patrick Goepel (4.80% with 1.30 million shares), and Daniel M. Gill (4.28% with 1.16 million shares). The Asure company's history is marked by a robust acquisition strategy, with 18 acquisitions completed, primarily in the HRTech and HR Services sectors, peaking in 2017 and 2018 with five acquisitions each. Notable acquisitions include iSystems LLC in May 2017, which integrated payroll service-bureau software, and Lathem Time for $39.5 million on July 1, 2025, aimed at bolstering its time and attendance business and recurring revenue. These strategic moves are part of Asure's ambition to expand its presence within the $100 billion HCM market, aligning with its Target Market of Asure.
Asure Company Ownership Overview
Understanding who owns the Asure company is crucial for assessing its strategic direction and stability.
- Institutional investors are the dominant shareholders.
- David Sandberg is the largest individual insider shareholder.
- The company has a history of strategic acquisitions.
- Recent acquisitions aim to strengthen its position in the HCM market.
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Who Sits on Asure’s Board?
The governance of Asure company is overseen by a board of directors, elected annually to ensure continuity and strategic direction. As of April 7, 2025, the company had 27,153,341 shares of common stock outstanding, with a strict one-share-one-vote policy in place, reflecting a transparent approach to Asure company ownership.
| Director Name | Role | Key Affiliations/History |
|---|---|---|
| Pat Goepel | Chairman & Chief Executive Officer | Elected to the board in August 2009; became CEO in January 2010. |
| Daniel Gill | Lead Independent Director | Serves on over ten boards; previously on nineteen, including iSystems (acquired by Asure in 2017). |
| Benjamin Allen | Director | |
| Bjorn Reynolds | Director | |
| Bradford Oberwager | Director | |
| Grace Lee | Director |
The board of directors is committed to maintaining independence, with all committee members meeting Nasdaq Stock Market independence standards. To safeguard the company's financial health, particularly its net operating losses valued at over $46 million, Asure Software implemented a Fourth Amended and Restated Rights Agreement in April 2025. This agreement extends the rights plan to October 28, 2028, and is designed to deter hostile takeovers by allowing for significant dilution of an acquirer's stake. Stockholder engagement is facilitated through special meetings, which can be convened by the Chairman, CEO, or Secretary, or upon a request from stockholders holding at least 10% of the voting stock. This structure underscores the Asure company's focus on corporate governance and shareholder value, aligning with its Mission, Vision & Core Values of Asure.
Board of Directors and Voting Power
Understanding the Asure company board and voting structure is key to grasping Asure company ownership. The board's composition and the voting power of shareholders directly influence strategic decisions and the company's direction.
- Annual election of directors for one-year terms.
- One-share-one-vote principle for all common stock.
- All board committee members meet Nasdaq independence standards.
- Rights Agreement in place until October 28, 2028, to protect net operating losses.
- Stockholder meetings can be called by key officers or significant shareholders.
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What Recent Changes Have Shaped Asure’s Ownership Landscape?
In recent years, Asure Software has been actively pursuing a growth strategy, marked by strategic acquisitions and a notable shift in its financial performance. The company's ownership structure reflects increasing institutional interest, alongside continued insider engagement.
| Ownership Type | Percentage | Trend |
| Institutional Ownership | 77.73% | Increasing |
| Insider Ownership | 7.02% | Active |
The company's recent financial reports indicate a positive trajectory in revenue, driven by strategic acquisitions and organic growth. Despite investments in expansion, operational efficiencies are improving, with a clear path towards profitability.
Strategic Acquisition Impact
The acquisition of Lathem Time for $39.5 million is expected to add approximately $2.1 million in recurring revenue annually, with projections reaching $3.5 million by 2026. This move enhances Asure's time and attendance solutions and creates cross-selling opportunities.
Financial Performance Highlights (Q2 2025)
Total revenues reached $30.1 million, a 7% year-over-year increase, with recurring revenue growing 6% to $28.6 million. Adjusted EBITDA improved to $5.2 million, showcasing enhanced operational efficiency.
Revenue Guidance and Backlog Growth
Full-year 2025 revenue guidance was raised to $138 million-$142 million. The contracted revenue backlog stood at $82 million as of Q2 2025, marking a significant 68% year-over-year increase.
Insider Activity and Market Trends
Insider buying activity, including Chairman and CEO Patrick Goepel's purchase of 150,000 shares in June 2025, indicates confidence in the company's direction. This aligns with the broader trend of increasing institutional ownership, as detailed in the Brief History of Asure.
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