WAYNE, PA — In a strategic move to bolster its market presence, BenefitHub has announced the acquisition of Abenity, a well-regarded provider of private perks programs. This acquisition enhances BenefitHub’s position as a leading platform for employee perks and voluntary benefits by integrating Abenity’s extensive perks offerings and cutting-edge mobile technology.
Abenity is recognized for its comprehensive perks programs, which provide access to a wide array of discounts and corporate rates on items such as movie tickets, theme park passes, car rentals, and hotel stays. The acquisition aligns with BenefitHub’s strategy to deepen its offerings for Fortune 1000 clients by leveraging Abenity’s strong ties with affinity organizations.
Trey Sykes, Managing Principal at Inverness Graham, emphasized the strategic advantage of this acquisition, stating, “The acquisition of Abenity strategically accelerates BenefitHub’s growth. The businesses are highly complementary and the combination enhances their collective strengths and market leadership.”
Jeff Litvack, CEO of BenefitHub, highlighted the deal’s significance in addressing the needs of their users amidst economic challenges. “This deal reinforces BenefitHub’s commitment to employees and membership organizations. With inflation persisting at high levels and continued diminishing consumer purchasing power, our millions of registered users are looking for the best and most accessible deals possible,” said Litvack.
BenefitHub is focused on exploring additional acquisitions that enhance its provision of high-quality voluntary benefits and employee engagement solutions. While the financial terms of the transaction were not disclosed, Abenity was advised by Lincoln International during the process.
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