![Mercer buys stake in Benefitfocus](https://www.benefitscanada.com/wp-content/uploads/sites/7/2012/09/new-media21.jpg)
Mercer has acquired a 9.9% stake in Benefitfocus, a U.S. provider of cloud-based benefits software solutions, for US$74.7 million.
The transaction will help Mercer to expand its U.S. insurance exchange.
“Today’s announcement with Mercer, which includes a long-term commercial contract expansion and a strategic equity investment in Benefitfocus, is further validation of our leadership in the private exchange and cloud-based benefits administration market,” says Shawn Jenkins, president and CEO of Benefitfocus.
Mercer has an option to increase its ownership in Benefitfocus over time.
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