The SimplyBiz Group has acquired a majority stake in software provider Staffcare for an undisclosed sum.
Staffcare provides software and support to power flexible benefits and auto-enrolment solutions to employee benefit consultants.
SimplyBiz said in a statement that it has acquired approximately 80 per cent of the business with Phil Hollingdale, founder and chief executive, and Graham Jarvis, head of global business and workplace savings, retaining the balance. The pair will continue to drive the business forward with increased backing from SimplyBiz.
Ken Davy, chairman at SimplyBiz, said: “We believe that auto enrolment and workplace savings will be key markets for many of the firms we serve and therefore it is important to them that we acquire the best and most innovative business in this field.
“We see major growth in the desire for employers to implement flexible benefit packages for their employees as well as the obvious opportunities that auto enrolment brings. These markets will be served by a combination of employee benefits consultants and small and medium sized financial advisers and we intend to invest in the business to ensure it supports both markets.
“For Staffcare’s existing client base, we will ensure continued investment in product development to ensure they have the very best software available in the market. We know and understand how important flexible benefit solutions are to these businesses and we aim to support Staffcare in the development and delivery of innovative technology to this market.
“Finally, compliance is our core business and it is at the very heart of what we do. It is clear that compliance is also core to the auto enrolment market, which makes Staffcare a natural fit for the group.”
