AlphaStaff Group Inc., a professional employer organization, has agreed to acquire Selective HR Solutions Inc. from an insurance distributor.
Selective HR is a PEO subsidiary of Selective Insurance Group Inc., Sarasota, Fla. (NASDAQ:SIGI), according to AlphaStaff, Fort Lauderdale, Fla.
AlphaStaff is not announcing the cost of the deal, but it says it hopes to complete the deal around Jan. 1, 2010.
Once the deal is completed, the 900 insurance agents at Selective Insurance will market AlphaStaff PEO services, AlphaStaff says.
AlphaStaff now has 50,000 employees at customers’ worksites, and it would emerge from the deal with a total of 70,000 worksite employees.