AlphaStaff Group, Inc., of Ft. Lauderdale has executed an agreement with Selective Insurance Group, Inc., to acquire its Sarasota, Fla.-based PEO subsidiary, Selective HR Solutions, Inc. Closing, subject to Florida regulatory approval, is expected to occur on or around Jan. 1, 2010.
Jay Starkman, AlphaStaff's CEO and a board member of the National Association of Professional Employer Organizations, noted that a key factor in the deal was the vast potential to increase sales by offering AlphaStaff's product and commission structure to Selective Insurance's 900-plus agents.
"Through this acquisition, AlphaStaff becomes the only PEO to distribute its product exclusively through the insurance agent channel," said Starkman.
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