"Plugging into a major engine."
That's how Jeff Fallick, founder and president of Mountain View, Calif.-based Fallick Insurance, described his firm's acquisition by benefits industry powerhouse Digital Insurance.
The companies announced the acquisition late Wednesday, describing the strategy around the deal as a way for Digital to expand its Northern California presence. Fallick's seven employees will join the 15-employee Digital Benefit Advisors Los Altos/Silicon Valley office. Fallick provided employee benefits services to some 175 Bay area employers.
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"With Digital's communications platform and health care reform expertise, (Fallick's) clients will now receive even greater value," said Mike Sullivan, executive vice president and chief marketing officer of Digital Insurance.
Industry sources report that Fallick Insurance had annual revenue of about $5 million.
Fallick said his team is excited to become part of Digital's growing service network. Digital describes itself as "the nation's largest and most technologically advanced employee benefits-only agency."
"In the face of health care reform and other marketplace changes anticipated in 2014, our offerings are strengthened by our plugging into a major engine with a 12-year impressive track record," Fallick said. "The company's robust platform with tremendous resources will help create ample opportunities and position us for significant growth throughout Northern California."
Digital Benefit Advisors is, according to the company, "a national network of experienced, local market experts who deliver expanded offerings to businesses and organizations." Digital is a wholly owned subsidiary of Fidelity National Financial (NYSE: FNF).
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
