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Specialty Program Group acquires HCM Unlocked for leave management
The deal adds leave-of-absence management and related compliance capabilities to SPG's benefits platform as paid family and medical leave laws expand across 13 states and Washington, DC.
Specialty Program Group (SPG) has acquired HCM Unlocked, a technology-enabled managed services provider focused on human capital management, expanding SPG's employee benefits platform with leave-of-absence management and associated payroll, HR, benefits administration, and compliance capabilities.
HCM Unlocked, founded in 2018 and led by CEO John Wallace, provides services to mid-market and enterprise clients, including HR technology vendor selection, implementation, and ongoing management. Its DELTA platform is described as an AI-enabled data validation tool that supports accuracy across payroll, time and attendance, HR, and benefits systems across multiple technology vendors.
SPG said the acquisition was announced Thursday, HCM Unlocked will continue operating under its current name, and the company's roughly 200 employees will join SPG. Deal terms were not disclosed.
The acquisition comes as multi-state paid family and medical leave obligations become more complex, with 13 states and Washington, DC having enacted paid family and medical leave programs that provide partially wage-replaced leave, according to analysis by law firm Katz, Marshall and Banks, cited by Insurance Business.