Benifex has wrapped up its acquisition of Vebnet, formerly part of Standard Life.
The deal, first announced in November, sees 31 corporate customers transfer to Benifex resulting in more than 140,000 employees being added to the platform and bringing Vebnet’s established customer base into Benifex’s customer community.
Customers also now have the opportunity to further enhance their employee benefits technology through OneHub’s wider product offering and the expanded geographic footprint of Benifex’s services.
Alongside the deal, Standard Life and Benifex have agreed a strategic partnership to ensure that Standard Life customers using OneHub will also benefit from an enhanced set of integrations, that simplify processing and support employees with their Standard Life products and wider financial wellbeing.
Adam Mason, executive vice president at Benifex, said: “We’re delighted to welcome so many fantastic brands into our global customer community.
“We already work with exceptional change-makers who share our vision to build remarkable employee experiences, and the addition of Vebnet’s customer base expands our ability to have a positive impact on even more people’s lives.
“Working with our customers, we are focused on building experiences that employees love.
“We’re also excited to be welcoming to the Benifex family the talented team who have worked with these customers; the great service that Standard Life customers have received will continue with the same experts working on their behalf at Benifex.
“However, as a combined business, we’ll be able to help customers realise even greater value from their programmes and deliver meaningful engagement that positively impacts employees every day.”
Mason added: “This acquisition aligns with our focus on being the number one global reward and benefits platform, whilst also reinforcing our commitment to the UK market.
“It has been an exciting start to 2025 for Benifex and we are incredibly grateful to our customers for their trust in partnering with us as we shape the future of reward and benefits.”