Hub International Ltd., an insurance brokerage, has acquired Algentis LLC, creator of a human resources software and services platform that is designed to integrate payroll, benefits, insurance and HR compliance.
The Algentis HR Platform enables Hub to administer employee benefits, payroll, workers' compensation, recruiting tracking, risk/safety management, healthcare reform compliance and HR compliance and training. Terms of the acquisition were not disclosed.
“Algentis delivers a streamlined, integrated approach to benefits administration for companies not ready for full in-house capabilities,” said Mike Barone, national president, Employee Benefits. “As those companies grow to middle-market companies, we can transition them into more robust customized insurance and benefits solutions.”
The Algentis leadership team and operations will report to Barone, Hub said, and Algentis will maintain its offices in San Francisco, San Jose and Walnut Creek, California.
“Smaller companies are typically resource-constrained, and serving as a virtual HR department for them, empowers them to get on with the business of growing their business,” said Brian Helmick, Algentis’ founder. “The additional layers of resources, expertise, and carrier relationships that Hub brings will create an even more powerful solution that will grow with our clients.”
Algentis will become a part of Hub International Insurance Services Inc. Algentis was founded in 2006; Hub will expand the Algentis platform for a national rollout by adding it to a broader network of carriers and employee benefit solutions, such as voluntary benefits, ancillary support services and healthcare reform compliance consulting.
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