Digital employee wellbeing firm Raiys has taken a significant step by acquiring content streaming service Ashia. The acquisition marks a strategic move in Raiys’ expansion plans, following its previous acquisition of The Healthy Employee.
This latest acquisition aims to merge the strengths of both companies, enhancing their capability to deliver comprehensive wellbeing solutions to various organisations. It also ensures job security for Ashia’s staff, who will now be part of Raiys.
Raiys’ Expansion Strategy
Digital employee wellbeing firm, Raiys, has acquired content streaming service, Ashia. This move is described as ‘another leap forward’ in Raiys’ growth strategy. It is the company’s second acquisition, following the acquisition of The Healthy Employee last year.
Ashia, developed by Glasgow-based Frog Systems, went into administration in July. Frog Systems faced a ‘challenging time’ due to uncertain ongoing research and development tax credit reviews, which hindered securing new funding for growth.
The Role of Administrators
Craig Morrison and Brian Milne of Quantuma, a business advisory firm, were appointed as joint administrators. Their appointment led to the sale of Ashia’s business and assets to Raiys. This acquisition will safeguard the jobs of all nine Ashia staff, who will transfer to Raiys.
Frog Systems’ former Chief Executive, Phil Worms, expressed his optimism about the acquisition. He stated, ‘Like Raiys, we are passionate about the value of proactive and preventative wellbeing services.’
Ashia’s Offerings to Clients
Ashia provides wellbeing content for various businesses. Its clients include notable names such as Sussex Cricket, The Lowry in Salford Quays, and the Scottish hire firm, GAP Group.
Ashia’s service includes 16 channels of content, a library of 8000 videos and podcasts, and a UK-wide support directory. Thousands of curated digital resources are also part of its offerings.
This acquisition aligns with Raiys’ goal of enhancing its digital wellbeing services. The combined capabilities of Ashia and Raiys aim to offer a comprehensive suite of tools for improving employee health and wellbeing.
Strategic Statements from Raiys
James Murphy, the founder and Chief Executive of Raiys, highlighted the significance of this acquisition. He noted that integrating Ashia into Raiys’ operations would enhance their service offerings.
Murphy stated, ‘The addition of Ashia gives us an even more powerful offering.’ Raiys aims to provide employers with the necessary tools to improve the health and wellbeing of their people.
Murphy also mentioned that the combined data capabilities of both services would offer real-time management data. This data aims to assist managers and HR teams in making informed wellbeing decisions.
Market and Implications
The acquisition of Ashia is seen as a significant step in the wellbeing industry. The move demonstrates Raiys’ commitment to expanding its reach and capabilities in digital wellbeing services.
This consolidation is expected to create a robust platform for delivering comprehensive wellbeing solutions to a broader audience.
Overall, the acquisition reflects a strategic effort to integrate complementary services, thereby enhancing the overall value proposition for existing and potential clients.
Future Outlook
This acquisition sets a precedent for future growth in the wellbeing sector. Raiys’ strategic acquisitions underline its commitment to providing holistic wellbeing solutions.
By incorporating Ashia’s resources, Raiys is poised to offer a wide range of services, further solidifying its position in the market.
This acquisition highlights the growing importance of digital wellbeing services. Raiys’ strategic move to acquire Ashia showcases its dedication to providing top-tier employee health solutions.
By integrating Ashia’s vast content library and resources, Raiys is well-positioned to lead in the digital wellbeing sector. This consolidation promises to offer substantial benefits to existing and future clients.