PARIS: Pluxee, a global player in employee benefits and engagement, signed an agreement to acquire 100% of ProEves, an Indian corporate childcare benefit player.
With this acquisition, Pluxee will continue to deliver on its strategic growth plan, enhancing its multi-benefit offering in this market.
With over 3.5 million consumers in India, Pluxee is a leader in the Employee Benefits and Engagement market. This acquisition will allow Pluxee to strengthen its leadership position by helping organizations provide benefits that foster gender equality and work-life balance in India. It will also help companies comply with the regulatory requirements to extend childcare benefits to employees.
ProEves is the first childcare benefit player of its kind in India, allowing parents to easily select the right caregiver for their children in a fully comprehensive digital tool.
Given its high growth profile and solid operating leverage, the acquisition of ProEves is expected to be accretive in Total revenue organic growth and Recurring EBITDA by Fiscal 2026. The transaction is expected to be fully funded from existing financial resources, with no material impact on leverage.