Ceridian Gains Employee Benefits Business From California-based Company
ST. PETERSBURG, FL (February 04, 2008) – Ceridian, a leading provider of employee benefits services, announced today it acquired certain assets of COLT Express Outsourcing, Inc., a California-based benefits administration outsourcing company.
Under terms of the agreement, Ceridian Benefits Services, as part of Ceridian, will provide full benefits administration and communications to COLT’s employer clients, using its well-established systems to bring greater efficiencies and offer enhanced capabilities. Included are health and welfare services, COBRA/HIPAA continuation services, Flexible Spending Account management and commuter administration services.
Terms of the transaction were not discussed.
“Acquiring the business of a quality company like COLT continues Ceridian’s expansion into the benefits marketplace,” said Matthew Claus, vice president, Business Development, for Ceridian. “It shows our continued commitment to provide world-class solutions to companies who choose to focus on the core aspects of their businesses.”
Based in Walnut Creek, Calif., COLT is a highly reputable company that specializes in administering employee benefits for businesses with up to 10,000 plan participants. The agreement enables COLT to focus on its core business of providing insurance brokerage services.
“This transaction allows our customers an enhanced outsourcing experience and the ability to add additional services as the need arises,” said Samuel Colt, owner of COLT. “They’ll also continue to receive the individual attention from Ceridian they’ve come to depend on.”
Ceridian is an innovative provider of managed human resource solutions to 116,000 businesses worldwide and more than 25 million employees, with more than 75 years’ experience.
Source: Ceridian
