Hewitt Associates, Inc., a global human resources services company, is enhancing its portfolio of benefits outsourcing services and solutions for middle-market companies with the acquisition of RealLife HR, a leading provider of benefits management services. Under terms of the agreement, Hewitt will acquire RealLife HR , which delivers health and welfare benefits administration services via a proprietary platform targeted at employers with fewer than 15,000 employees and/or retirees.
“The acquisition of RealLife HR will allow us to grow our benefits outsourcing business more rapidly,” said Russ Fradin, chairman and chief executive officer of Hewitt Associates. “The middle market represents a large and attractive growth opportunity for us, and by joining forces with RealLife HR, Hewitt will be able to more effectively serve middle-market companies in a way that is consistent with the human resources expertise and solutions we’re recognized for in the large market.”
RealLife HR provides services to about 35 clients, all of which will have access to Hewitt’s outsourcing and consulting services. Upon closing, Hewitt will assume responsibility for RealLife HR’s staff of approximately 85 employees and its facility in Hunt Valley, MD.
“Combining with RealLife HR enables us to build on the success we’ve already achieved serving large employers,” said Jay Rising, president of Hewitt’s HR outsourcing business. “We chose RealLife HR because its proprietary platform provides robust technology and capabilities that allow us to offer more flexible and efficient solutions that can be easily integrated with our existing suite of services.”
Financial terms of the agreement were not disclosed. The transaction is expected to close at the end of August 2007.