M&A Deal Summary

WageWorks Acquires CONEXIS

On August 1, 2014, WageWorks acquired business services company CONEXIS for 118M USD

Acquisition Highlights
  • This is WageWorks’ 9th transaction in the Business Services sector.
  • This is WageWorks’ largest (disclosed) transaction.
  • This is WageWorks’ 10th transaction in the United States.
  • This is WageWorks’ 1st transaction in Texas.

M&A Deal Summary
Date 2014-08-01
Target CONEXIS
Sector Business Services
Buyer(s) WageWorks
Deal Type Add-on Acquisition
Deal Value 118M USD

Target

CONEXIS

Irving, Texas, United States
CONEXIS provides account-based plans, COBRA and Direct Bill administration services, and public and private exchange services to corporations, state and local governments, and business process outsourcing companies, as well as insurance carriers and health plans.

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Buyer(S) 1

Buyer

WageWorks

San Mateo, California, United States
Category Company
Founded 2000
Sector Business Services
Employees1,921
Revenue 476M USD (2017)
DESCRIPTION
WageWorks' corporate headquarters in San Mateo, California.
WageWorks' corporate headquarters in San Mateo, California.

WageWorks is a provider of consumer-driven tax-advantaged spending accounts for health and dependent care and commuting. Products include flexible spending (FSA), health reimbursement (HRA), health savings (HSA), COBRA and commuter accounts. WageWorks, Inc. was formed in 2000 and is based in San Mateo, California.

DEAL STATS #
Overall 10 of 11
Sector (Business Services) 9 of 10
Type (Add-on Acquisition) 7 of 7
State (Texas) 1 of 1
Country (United States) 10 of 11
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-07 Crosby Benefit Systems

Newton, Massachusetts, United States

Crosby Benefit Systems, Inc. is an administrator of benefit programs with a focus on higher education and health care institutions, based in Newton, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 Automatic Data Processing - CHSA and COBRA Businesses

Roseland, New Jersey, United States

ADP’s CHSA and COBRA businesses provide a range of services including HSA, HRA, FSA, commuter benefits, COBRA, and direct bill administration to approximately 10,000 employer clients in the United States.

Buy -
Mergr

Product

Company

Legal