ACS, a major employer in Kentucky, announced Tuesday that it plans to acquire ExcellerateHRO, which provides global benefits administration and relocation services. ACS will pay $125 million for the subsidiary of HP, according to a filing with the U.S. Securities and Exchange Commission.
The purchase "establishes ACS as one of the world's single largest pension administrators and solidifies its role as a leading provider of outsourced health and welfare and relocation services," according to a news release issued by ACS.
The newly acquired business will be overseen by Ann Vezina, an executive vice president based in Lexington, said spokesman Chris Gilligan. However, ExcellerateHRO will continue to operate from its current locations.