Zellis Group, a portfolio company of funds advised by Apax Partners, has announced a definitive agreement to acquire Benify, a provider of employee benefits administration software. Benify will be combined with Zellis Group’s Benefex business, creating a global leader in benefits, reward, recognition, and employee engagement software. Vitruvian Partners, the current owner of Benify, will become a minority investor in Zellis Group. The combined entity will offer enhanced products and services to customers globally, supported by a strengthened product portfolio and an expanded geographic network. The merger is poised to benefit around 3,000 companies across more than 100 countries, impacting over 5 million employees. The transaction, advised by Arma Partners, Evercore, Kirkland & Ellis, Deutsche Bank, and Bird & Bird, is subject to customary closing conditions.
Human Resources (HR) Software, Private Equity, Mergers and Acquisitions (M&A),United Kingdom, Sweden, Global
https://www.apax.com/news-views/zellis-group-agrees-to-acquire-benify-in-transformational-global-benefits-software-combination/