Ciphr expands with acquisition of employee benefits firm Avantus
Ciphr has announced its acquisition of Avantus, expanding its services to include employee benefits offerings.
Avantus, established in 2005, provides an employee benefits and rewards platform known as FlexGenius and a white-labelled solution called MyWorkPal, serving over 400 businesses globally. This acquisition marks Ciphr's third in 18 months, following the purchases of Marshalls (now Ciphr eLearning) in April 2023 and Shape Payroll in June 2024, aligning with its strategy to enhance its core HCM services by acquiring UK companies.
Philip Curtis, co-founder and CEO of Avantus, and his team of 30 will join Ciphr, broadening its customer proposition to include employee benefits and wellbeing services. The platform helps employers offer personalised benefits to diverse workforces, aiming to improve recruitment, retention, and employee value propositions. Employees can manage their benefits through a centralised portal offering various options such as salary sacrifice, medical cover, and retail discounts.
Sion Lewis, CEO of Ciphr, commented on the acquisition, stating, "This is an exciting acquisition for Ciphr, and we're delighted to welcome Philip and the Avantus team to the group." He highlighted Avantus's reputation for providing "functionality-rich, people-centric technology" that enhances the working experience by redefining employee benefits.
Lewis further elaborated on current challenges faced by UK organisations, noting, "Retaining staff has been a key challenge for UK organisations this year. And we know from customer research that 'benefits' are a real value-add and top priority for HR teams." He underscored the importance of a robust benefits offering for enhancing employee engagement, morale, and productivity.
He added that integrating Avantus will "truly enhance Ciphr's HCM proposition" and help Ciphr in its growth journey to become a leading UK technology firm, expanding on its suite of HR, payroll, learning, recruitment, and benefits software.
For Avantus's existing clients, operations will proceed without disruption, with the same level of dedicated support from the Avantus team.
Philip Curtis expressed his optimism about the acquisition, noting, "We are absolutely delighted that Avantus has become part of the Ciphr Group." He emphasised their shared ethos with Ciphr and the enhanced capabilities that integration would bring for providing a comprehensive people management solution to their customers.
Stephen Roberts, Partner at ECI, commented on the strategic nature of the acquisition, saying, "Benefits has long been a focus for our M&A strategy, and we're delighted to bring Avantus, a high-quality and fast-growth business, into Ciphr." He mentioned the growing importance of employee benefits in enhancing employer value propositions and retaining talent in competitive markets.
Ciphr serves as an HR software and solutions provider for medium and large UK organisations, with its offerings now extended through this acquisition. Among its clients are Volkswagen Group UK, the Met Office, and the University of Oxford, highlighting its presence in both public and private sectors.
