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Benefits October 30, 2003
Fidelity Trying to Acquire HR Learning Software Company
October 30, 2003 (PLANSPONSOR.com) - Fidelity
Investments is finalizing a deal to acquire TEDS, an HR
software development and consulting company.
Reported by Fred Schneyer
According to a news release, the deal is expected to close by the end of the year for the company that provides learning management systems (LMS), performance management and workforce management products and services
Fidelity said TEDS would continue to operate from its Virginia offices and that its menu of product and service offerings would help enhance Fidelity’s HR outsourcing capabilities by extending its HR outsourcing model into the emerging market of outsourced learning and training administration.Joseph Ellis, Jr., president and founder of TEDS, would remain as president and chief executive officer.
Specific advantages for outsourcing human capital development and learning management processes include reductions in the time devoted to administering learning and upfront capital expenditures for training-related technology, and cost-effective changes in process improvement and supply chain management, the announcement claimed.
Through its Workplace Services offering, Fidelity Investments provides human resources administration and employee benefits to more than 16 million employees in more than 11,600 retirement, pension, health and welfare, payroll and stock programs.