Co-operators Acquires Smart Employee Benefits Inc.
January 3, 2023
Co-operators Financial Services Limited, a wholly owned subsidiary of The Co-operators Group Limited, agreed to acquire all issued and outstanding common shares of Smart Employee Benefits Inc. (SEB) for C$0.30 per share in a statutory plan of arrangement, implying an equity value of approximately C$89.1 million. The acquisition is intended to bolster Co-operators' Group Benefits capabilities by integrating SEB's benefits administration technology, SaaS products and managed services; closing is subject to shareholder, court and regulatory approvals.
- Buyers
- Co-operators Financial Services Limited, The Co-operators Group Limited
- Targets
- Smart Employee Benefits Inc.
- Sellers
- SEB Shareholders
- Industry
- Financial Services
- Location
- Ontario, Canada
- Transaction Type
- Buyout
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