Mangrove Enhances Product Offerings through BenefitOne Acquisition
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TAMPA, Fla., Feb. 23: Mangrove Software, a leading provider in web-based Human Resource, Payroll and Self Service solutions, announces the acquisition of BenefitOne of America, a full-service Employee Benefits Administration company.
Established in 1986, in Saint Petersburg, Florida, BenefitOne provides full service COBRA administration, HIPAA certification, flexible spending accounts, debit card administration, retiree billing, and leave of absence administration. Adding these services to Mangrove Software enhances its ability to capitalize on the growing Human Resources Outsourcing market and significantly expands its offerings to its existing customers.
Richard Cangemi, co-owner of Mangrove Software stated, "We are delighted to welcome BenefitOne's employees and customers to the Mangrove family. This acquisition signals a strong step forward for our company and broadens the products and services we can offer to every one of our current, valued relationships."
BenefitOne of America, now operating as Mangrove Benefit Services, Inc., has added 30 employees to the Mangrove workforce and has transferred all customer contracts under the new entity. This adds 275 customers to Mangrove's client base. Mangrove Software will continue to offer its clients state-of-the-art Human Resource Management and Payroll Software; Business Process Outsourcing, including check-printing services, tax-filing services, year-end and compliance reporting; and will add full-service Employee Benefits Administration with a dedicated client services division to handle all questions, issues and customer requirements.
Brian Meharry, President of BenefitOne of America, commented, "As a customer and partner of Mangrove, we have had first hand experience in how powerful their technology is. Adding Benefits Administration to their offerings enhances the capability our collective customers will have in managing the diverse needs of their employees." He continued, "Anytime a transaction like this occurs, it is critical that we maintain a business-as- usual posture. By keeping BenefitOne intact, Mangrove's ownership demonstrates a shared passion for customer satisfaction and service continuity." Cangemi agrees, "It was very important to us that BenefitOne's management team and all of their employees remained on board with us to preserve their knowledge and strong relationships with their customers. By accomplishing that, our company wins, all employees win, and most importantly our collective customers win."
BenefitOne President Brian Meharry will join Mangrove Software as President and Chief Operating Officer. Richard Cangemi will remain as Mangrove's Chief Executive Officer. Mangrove Software will continue to operate out of Tampa, Florida.
About Mangrove Software
Founded in 1994, Mangrove Software, Inc., is a leader in delivering web- based Human Resource, Payroll and Self Service solutions. Headquartered in Tampa, Florida, Mangrove Software hosts more than 10,000 Human Resource and Payroll customers. Mangrove's customers include numerous Payroll Service Bureaus, Administrative Service Organizations (ASOs), Hotels, Manufacturers, Health Care Organizations and Retailers.
Source: Mangrove Software, Inc.
CONTACT: Alicia Riek, Media Liaison of Mangrove Software, Inc.,
+1-813-514-2900, x 301
Web site: http://www.mangrovesoftware.com/
