Hewitt Associates announced it is enhancing its portfolio of benefits outsourcing services and solutions for middle-market companies with the acquisition of RealLife HR, a provider of benefits management services. Under terms of the agreement, Hewitt will acquire RealLife HR, which delivers health and welfare benefits administration services targeted at employers with fewer than 15,000 employees and/or retirees.
Currently, RealLife HR provides services to about 35 clients, all of which will have access to Hewitt's full range of outsourcing and consulting services as part of the combination. Upon closing, Hewitt will assume responsibility for RealLife HR's staff of approximately 85 employees and its facility in Hunt Valley, MD.
Financial terms of the agreement were not disclosed. The transaction is expected to close at the end of August 2007.