Edenred, the global leader in payment solutions for the working world, announces the acquisition of Easy Welfare, the number one operator of employee engagement platforms in Italy. Edenred leverages its leading position in the Italian employee benefits market, to step up the development of this fast-growing offering. With this transaction, Edenred is addressing the increasing demand from companies that want to improve employees’ loyalty, motivation and purchasing power by offering them a wide range of benefits via simple and flexible digital solutions.
Edenred has acquired all outstanding shares in Easy Welfare, the number one Italian supplier of employee engagement platforms, with more than 600,000 users. Easy Welfare has been active since 2006, and in 2018 it generated revenue of €11 million.
“We are delighted that Easy Welfare is joining Edenred, the global leader in employee benefits. This acquisition will give our clients access to a more exhaustive offering while ensuring that they can continue to take advantage of high quality services,” said Federico Isenburg, founder of Easy Welfare.
The transaction, representing an enterprise value of around €53 million, will be accretive to Edenred’s EBIT as of 2019.