Access People, a division of business management software organisation The Access Group, has entered into a binding agreement to purchase employee benefits provider Caboodle.
The acquisition, subject to regulatory approval from the Financial Conduct Authority (FCA), is expected to be completed within the next few months.
Caboodle, founded in 2009, was created by employee benefits and employee engagement experts and offers employee benefits and reward and recognition tools through its Salary Extras platform, which is configurable so it can be used by both small businesses and larger enterprises. The platform can also be adapted to integrate with an employer's benefits and internal systems.
Charles Butterworth, managing director at Access People, which itself employs around 5,000 staff, said: “The need to reward and recognise employees to aid retention of valued employees is now more important than ever before. Employee needs are shifting, especially with the rising cost of living, so providing money saving benefits that are accessible at any time is essential. We’re delighted to welcome Caboodle as the latest acquisition to the Access Group, allowing Access People to expand its range of HR services.”
Catherine Bennett, managing director and founder of Caboodle, added: “At Caboodle we’ve always taken a proactive approach in looking for new ways to support our clients and enhance the services we offer. I’m really excited about our next chapter and the opportunities that being part of the Access People will bring. Together we’ll be able to invest and develop software that will provide businesses with a more comprehensive and seamless HR service.”
