Selerix, a leading provider of cloud-based benefits administration solutions, announced today that it has acquired SyncStream Solutions, LLC, the pioneer of Affordable Care Act (ACA) reporting technology. Financial terms of the transaction were not disclosed.
This acquisition creates one of the largest providers of ACA solutions in the market with extensive expertise and a highly tenured strategic advisory offering that will deliver a more comprehensive set of solutions. By bringing together two trusted partners in a compliance-heavy landscape, Selerix will now be able to offer a full suite of ACA services, including tracking, filing, auditing, and past-year compliance, allowing clients to utilize a single benefits technology provider to streamline operations. That alignment will deliver significant efficiencies and cost savings for businesses navigating the intricacies of ACA compliance.
“The integration of our technologies will allow us to offer real-time benefits compliance and a unique value proposition centered on exceptional customer support,” said Tim Pratte, CEO of Selerix. “SyncStream has been a leader in the market for many years. Its overall technology and comprehensive API continue to serve its clients seamlessly. With the combined strengths of our two companies, we can successfully address the complex challenges that many companies face in the staffing and PEO industries, particularly managing employees’ varying eligibility and frequent payroll changes.”
As a strategic partner, Selerix is known for its white-glove customer service, helping clients simplify the complexities of benefits administration. The company understands that instant access to data is critical when tracking complex information, and with the forthcoming API integration, client data will be housed in a single location, allowing for improved, streamlined services and functionality. In addition to improved access to data, the transaction is expected to support Selerix’s ongoing commitment to investing in and enhancing its robust customer service capabilities.
“This acquisition not only creates an end-to-end provider of ACA services, but also brings together two tenured and experienced teams to better serve our clients,” said Shannon Scott, CEO of SyncStream. “Selerix has a reputation in the industry for being proactive when it comes to customer service and support, and this approach aligns perfectly with the SyncStream philosophy. Our combined forces will build on well-established service and solutions to make the client experience even better.”
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