Zellis Group, the parent company of Benefex, has agreed to buy employee benefits administration software provider Benify with plans to merge the two companies.
As part of the purchase of Benify, current owner Vitruvian Partners will become a minority investor in the Zellis Group alongside the Apax Funds.
Health & Protection has asked about the value of the deal and if any redundancies will be made from either firm as part of the merger.
Combined, Benefex and Benify will support around 3,000 companies with five million employees across more than 100 countries through their benefits, wellbeing, broking, rewards and recognition, and communications offerings.
Benefex said together the two businesses would be better able to enhance employee experiences across the globe.
It added that Benefex and Benify were highly complementary and the acquisition created a “truly global solution, powered by an expanded geographic network, a strengthened product portfolio, and a broader range of services”.
Benefex CEO Matt Macri-Waller said: “We’re excited by the opportunity that this combination provides for new and crucially current customers of both Benify and Benefex.
“Together we share a common goal of powering a truly global and exceptional employee experience for our customers and this acquisition develops the global capabilities of our products and services, while bringing together the depth of talent that sits across both organisations.”
Benify CEO Joakim Alm added the firm was looking forward to joining Zellis Group and Benefex. “By combining our respective strengths, we will further expand our products, services and value to our customers and their employees,” he said.
“We are grateful for the support we have received from Vitruvian in accelerating our international growth journey over the past decade.”
