Selerix and SyncStream Join Forces to Transform HR Tech Landscape with End-to-End ACA Capabilities and Unmatched Customer Support

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Nov 25, 2024, 09:00 ET

Acquisition Creates One of the Largest Providers of ACA Solutions in the U.S. Market

MCKINNEY, Texas, Nov. 25, 2024 /PRNewswire/ -- 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."

About Selerix
Selerix is an industry-leading benefits administration provider for both core and voluntary benefits. Its solution combines a flexible benefits admin platform with a commitment to providing best-in-class client service. In addition, the Selerix platform includes ACA reporting and employee engagement to deliver a fully-featured, all-in-one package. Trusted by brokers, carriers, over 25,000 employer groups, and 14 million individuals, the Selerix mission is to deliver benefits administration solutions that actually benefit employees. To learn more, visit selerix.com.

About SyncStream Solutions
Founded in 2013, ERISA attorney Arthur Tacchino, JD, launched SyncStream Solutions, LLC as the first technology company to help employers tackle the complex landscape of ACA reporting. For over a decade, SyncStream's team of ACA experts has embarked on a mission to simplify the complexities of ACA reporting, guiding thousands of businesses toward higher confidence levels and reduced financial risks.

As a result of SyncStream's hands-on guidance, employers have been able to mitigate over $650 million in potential IRS penalties and fines.

Media Contact:
Jill Crawford
Selerix
[email protected]

SOURCE Selerix