Sodexo to acquire Inspirus

Sodexo, a French food services and facilities management company, yesterday struck a deal to buy Inspirus, a US company that provides users with a beginning-to-end personalised service award platform for their workforce.

Sodexo did not disclose the financial terms of the deal, but said that post closing, it will fully own the Inspirus business and its customer portfolio and Inspirus will continue to operate as a separate and independent entity under the Sodexo Benefits and Rewards Services, USA division.

Founded in 1893 and based in Fort Worth, Texas, Inspirus provides service awards recognition and performance software solutions to company workforce.

The company offers support in strategy, communications, training, and analytics categories. It also provides Workforce Recognition, a technology solution that provides tools and support to integrate and administer recognition in organization at various levels with a centralised administration and budgeting, improves retention, and boosts performance.

The company's clients include Fortune 1000 companies in the US and overseas.

''Our acquisition of Inspirus positions Sodexo to become a global leader in employee engagement solutions,'' said Mia Mends, CEO at Sodexo Benefits and Rewards Services, US.

''As the world leader in services that enhance quality of life, expanding our market reach and capability in the dynamic recognition and employee engagement category is critical to our long-term vision. After a thoughtful and thorough evaluation of the market, it's clear that Inspirus offers the best fit across multiple dimensions, from culture and vision to technology and services,'' she added.

Founded in 1966 by Pierre Bellon, Sodexo has a market cap of €15 billion and annual sales of €19.8 billion.

Operating with 420,000 employees in 80 countries, Sodexo serves 75 million consumers each day through its more than 100 services.

Sodexo offers services ranging from self-service food services that include staff restaurants, catering, executive dining, vending, and meal delivery, to integrated facilities management services that include reception, concierge, cleaning, pantry, laundry, grounds keeping, waste management, vendor management, etc.