In a surprising turn of events, Bench, the venture capital-backed accounting startup that suddenly shut down last week, leaving thousands of customers locked out of their accounts, has been acquired by Employer.com in a last-minute deal. The acquisition, which was confirmed by a Bench board member, will allow customers to regain access to their data and continue using the platform.

Bench, which specialized in accounting and tax services, had more than 35,000 small business owners as customers, according to its website. The startup's abrupt shutdown on Friday caused chaos, particularly with tax season approaching, and emails to Bench employees bounced back. In response to the shutdown, Bench had recommended that customers file for a six-month extension with the Internal Revenue Service to find a new bookkeeper.

However, with the acquisition, Employer.com has announced that customers will be given the choice to port their data or keep their service under new ownership. Matt Charney, Employer.com's chief marketing officer, told TechCrunch that the company will revive Bench's platform and provide instructions for customers to log in and obtain their data imminently. This means that customers will no longer need to file for an extension with the IRS.

Employer.com, a San Francisco-based HR tech company, focuses on payroll and onboarding services. The company's CEO, Jesse Tinsley, announced the acquisition of the domain name in November for about $450,000. Tinsley has a history of acquiring companies in the HR space, including Recruiter.com and BountyJobs. Employer.com is not venture capital-backed and is entirely self-funded, according to Charney.

In a statement announcing the acquisition, Employer.com said that Bench customers can expect to continue "working with the same expert in-house bookkeepers they know and trust." The company also emphasized that the acquisition ensures that Bench customers can continue relying on the same high-quality service they've always received, while also opening the door to future enhancements and capabilities powered by Employer.com's extensive resources.

However, the acquisition may pose some challenges in practice. Bench employed more than 600 people, some of whom posted on LinkedIn after the shutdown notice that they were now looking for work. To ensure continuity, Bench is starting to call "a large number of employees back to work," according to Jennifer Bouyoukos, Bench's chief people officer.

The acquisition is a significant development in the accounting and HR tech industries, and it will be interesting to see how Employer.com integrates Bench's platform and services into its own offerings. For now, the deal provides a welcome reprieve for Bench's customers, who were facing uncertainty and potential data loss just as tax season is set to begin.