Online benefits platform provider Benefex has acquired Capita's employee benefits division.
The acquisition includes Capita's health, risk, global, defined contribution (DC) pensions, and flexible benefits consulting, as well as its Orbit benefits platform.
Following the acquisition, more than 100 employer clients will be transferred to Benefex. More than 450 small and medium-sixed enterprises (SMEs) will also transfer into a newly created division focused on SMEs and high-growth business. In total, over 100,000 employees will be added to Benefex's software-as-a-service (Saas) platform.
The combined business will now support over 650 organisations in more than 50 countries.
Matt Macri-Waller, chief executive at Benefex, said: “We are excited to be welcoming the Capita Employee Benefits team and customers to Benefex. We remain obsessed about our mission to help our customers design and deliver exceptional employee experiences. The newly combined organisation will help us solve even more of the challenges our customers are facing now and into the future.
“The fact we have been able to make this investment is a testament to our performance. It reflects the confidence of our investors in supporting our ambitions both for organic growth, but also where opportunities present, growth through acquisition. Our commitment to both our current customers, and customers of the future, is one of unrelenting focus on solving more for each of them through our OneHub product and the services our incredible people deliver.”
