Pluxee, a company specializing in employee benefits, to acquire rival MyBenefits in Romania
Pluxee, a global leader in the employee benefits and engagement market, has announced its strategic acquisition of MyBenefits, a fast-growing tech firm based in Romania. This move is designed to strengthen Pluxee's position in Continental Europe while expanding its technological capabilities.
MyBenefits, known for its innovative technology and personalized employee benefit offerings, has been a partner of Pluxee for the past three years. The transaction, expected to be fully financed through existing financial resources, is subject to approval by Romanian regulatory authorities.
The acquisition will bring MyBenefits' extensive offerings in employee benefits under Pluxee's umbrella, potentially leading to increased consumer base in the Romanian employee benefits market. Pluxee, with over 2 million consumers, is a leading player in the Romanian employee benefits and engagement market.
The acquisition is expected to generate sustainable growth synergies and unlock additional revenue opportunities through cross-selling. MyBenefits' innovative technology will also contribute to Pluxee's technological capabilities, likely enhancing its competitive edge in employee benefits offerings.
The acquisition is a strategic move that supports Pluxee's strategic growth roadmap, enhancing its position in key European markets. It is anticipated to be accretive to Pluxee's Recurring EBITDA margin from Fiscal 2026 onwards, indicating a positive financial impact. By integrating MyBenefits, Pluxee aims to strengthen its financial performance and resilience, particularly in challenging economic environments.
MyBenefits, launched in 2016, provides a platform for companies to offer personalized experiences to employees, allowing them to choose from a wide range of benefits such as meals, gifts, culture and tourism, wellness, and training. The company's fast growth and innovative technology in employee benefits have made it a standout in the market.
Pluxee, with its headquarters in Europe, has been expanding its footprint across the continent. This acquisition marks another significant step in its strategic growth plan, aimed at enhancing its reach and financial performance through strategic growth and technological advancements.
Pluxee's acquisition of MyBenefits, a tech-driven business offering personalized employee benefits, will align with Pluxee's strategic growth plan to strengthen its competitive edge in technology and the finance sector, enabling an increased consumer base in the Romanian business market. The transaction, financed through existing resources, is anticipated to generate growth synergies, unlock revenue opportunities, and fortify Pluxee's financial resilience, particularly in challenging economic environments.
