Alight Solutions

Alight Solutions is an Information technology and consulting company based in Lincolnshire, Illinois. The company provides cloud-based digital business and human capital service solutions; particularly within the areas of wealth, health and Human Resources.[1] The company went public on July 6, 2021, trading in the New York Stock Exchange under ALIT.[2]

Alight Solutions
TypePublic company
IndustryProfessional services
FoundedMay 2017
HeadquartersLincolnshire, Illinois
Area served
Worldwide
Key people
  • Stephan Scholl (CEO)
Services
  • 401(k) retirement
  • Benefits consulting
  • Financial management
  • Human resources
  • Health benefits administration
  • Payroll
RevenueIncrease US$2.915 billion (FY ended 12/31/2021)
Increase US$167 million (FY ended 12/31/2021)
Increase -US$73 million (FY ended 12/31/2021)
Total assetsIncrease US$10.988 billion (FY ended 12/31/2021)
Total equityIncrease US$4.928 billion (FY ended 12/31/2021)
Number of employees
15,000 (2020)
Websitealight.com

History

Alight was formed in May 2017 after the acquisition of the benefits outsourcing department of Aon Hewitt by private equity funds affiliated with Blackstone Group L.P.[3][4] It is headquartered in Lincolnshire, Illinois, with 7 sites located elsewhere within the US.[5][6]

Acquisitions

In March 2018, Alight entered into a definitive agreement to acquire Future Knowledge, an HR advisory company in Australia and New Zealand.[7] In July 2018, Alight acquired Compass Professional Health Services, a healthcare technology company based in Dallas, Texas.[8][9] In February 2019, India's third largest software services exporter Wipro sold their Workday and Cornerstone OnDemand business to Alight Solutions for $110 million.[10] On February 22, 2019, Alight announced the acquisition of Carlson Management Consulting, an Adaptive Insights implementation partner.[11] On August 1, 2019, Employee benefits platform Hodges-Mace was acquired by Alight Solutions.[12] On August 22, 2019, Alight Solutions announced the acquisition of NGA Human Resources, a provider of digital human resources and global payroll services.[13]

Partnerships

In September 2018, Wipro announced a $1.5 billion, 10-year engagement with Alight Solutions. According to its contract with Alight, Wipro has been mandated to digitally transform the Illinois-headquartered company's business.[14][15]

Awards

Alight was certified as a Great Place to Work in October 2018.[16] The International Association of Outsourcing Professionals (IAOP) named Alight to The Best of the Global Outsourcing 100 in May 2019.[17]

References
  1. "Alight Solutions LLC - Company Profile and News". Bloomberg.com. Retrieved 2023-02-08.
  2. Miller, Ben (July 6, 2021). "Alight Solutions goes public after $7.3 billion SPAC merger with Foley". Chicago Business Journal. Retrieved August 19, 2021.
  3. Jamerson, Joshua (February 10, 2017), Blackstone to Buy Aon's Human Resources Outsourcing Platform for $4.3 Billion, New York City: The Wall Street Journal
  4. "Introducing Alight Solutions: Leading benefits administration and cloud-based HR services provider re-launches with new name", PR Newswire, Cision, June 6, 2017, retrieved 6 January 2020, SOURCE Alight Solutions
  5. "Alight Solutions Office Locations and Headquarters: Woodbury, NY". www.zippia.com. 2021-01-29. Retrieved 2023-02-08.
  6. "Alight - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2023-02-08.
  7. Alight Solutions to Acquire Future Knowledge, March 1, 2018
  8. Isbell, Faith (June 13, 2018), Dallas-based health care company acquired by Alight Solutions, Dallas Business Journal
  9. Chaudhary, Mayuri (March 1, 2018), Alight Solutions Acquires Compass Professional Health Services to Grow Health Navigation Capabilities, HR Technologist
  10. Wipro To Sell Workday, Cornerstone OnDemand Business To Alight For Up To $110 Million, Bloomberg, February 27, 2019
  11. Alight Solutions Acquires Carlson Management Consulting, HR Technologist, February 22, 2019
  12. Employee Benefits Platform Hodges-Mace Acquired by Alight Solutions, AtlantaInno, July 10, 2019
  13. Alight Solutions acquires NGA Human Resources, Chicago Daily Herald, August 22, 2019
  14. Wipro can't believe its luck at sealing 10-year deal worth $1.6bn with Alight Solutions, The Register, September 8, 2018
  15. Mohapatra, Debasis (September 3, 2018), "Wipro wins biggest contract of over $1.5 billion from Alight Solutions", Business Standard India, Business Standard
  16. Alight Solutions – Great Place to Work United States
  17. The Best of the Global Outsourcing 100 - Leaders - iaop.org
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