Businessolver, the market leader in SaaS-based benefits technology and services, announced it has acquired Workterra, a fully configurable, easy-to-use benefits administration and enrollment platform.
Workterra provides its diverse customer base with an intuitive, easy-to-use, cloud-based application which alleviates the complexities associated with benefits administration and compliance. With Workterra’s flexible approach, their technology provides automated integration to carrier and payroll systems, creating a single-key, paperless approach for customers. This is combined with a proven team whose industry expertise and commitment to delivery produce superior customer service.
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“From day one, our mission with Businessolver has been to grow our business and delight our clients, and we are excited to extend that mission to Workterra and its customer base,” said Jon Shanahan, Businessolver CEO and President. “With this acquisition, we are committed to delivering industry-leading innovation and benefits expertise to the service and product delivery for Workterra, bringing a renewed growth path to the technology and the people who support it. Additionally, we are excited for what will be accomplished by bringing together two organizations with a commitment to driving a thoughtful and empathetic culture in all we do.”
“Joining forces with a market leader in benefits technology and services brings us full circle, back to our benefits roots,” said Ben Yomtoob, President of Workterra. “We are confident that Businessolver’s investment in innovative technologies and dedication to customer service will lead to greater opportunities for our Workterra employees and customers, allowing us to grow our footprint with the HR and benefits space.”
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Financial terms of the transaction were not disclosed. Citizens M&A Advisory and PJT Partners served as financial advisors and Sidley Austin LLP as legal advisor to CareerBuilder. Simpson Thacher & Bartlett LLP served as legal advisors to Businessolver.
Workterra is a fully configurable, easy-to-use benefits administration and enrollment platform built to simplify the growing complexity of benefits for HR and employees. Leading employers, brokers and carriers choose Workterra for its unmatched flexibility, robust reporting capabilities, and intuitive user experience as well as the personal service and support provided by dedicated benefits experts. Workterra’s industry-leading technology, together with a comprehensive suite of administrative services, help clients deliver a personalized enrollment experience, reduce administrative burden and streamline data exchanges with the utmost accuracy and security.
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