A Scottish wellbeing company, Frog Systems, has undergone a significant transformation after being acquired out of administration by a Cheshire-based business, Raiys. The acquisition, facilitated by Craig Morrison and Brian Milne, managing directors of business advisory firm Quantuma, has brought an end to the uncertainty surrounding Ashia, an on-demand content service developed by Frog Systems.
Despite facing difficulties in securing research and development tax credit, which hindered its ability to attract new funding, Frog Systems has found a new home with Raiys, a rival wellbeing business. Ashia, which had been operating despite the challenges faced by its parent company, boasts an impressive client roster, including prominent organizations such as GAP Group, Sussex Cricket, The Lowry theatre and arts venue, and GRAHAM.
According to Phil Worms, former chief executive of Frog Systems… the acquisition marks a new chapter for the company, as Raiys and Ashia share a commitment to proactive and preventative wellbeing services. Worms expressed optimism regarding the joint venture, noting that the combination of both entities will create a robust one-stop shop for wellbeing solutions.
James Murphy, founder and chief executive of Raiys, echoed Worms’ sentiments… highlighting the growing awareness among organizations regarding their responsibility in supporting employee wellbeing in the workplace. Murphy emphasized his company’s mission to help employers and businesses of all sizes create healthy, purposeful workplace cultures across various sectors and job roles.
The addition of Ashia to Raiys’ portfolio will enable the company to enhance its digital offerings and expand its proactive wellbeing services. This development marks a significant milestone for both companies, as they embark on a new journey together. As reported by Daily Business, “the acquisition strengthens Raiys’ position as a leading player in the wellbeing industry,” “while providing a new chapter for Frog Systems to regroup and reassess its strategy.”
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Wellbeing company acquisition.
The acquisition of Frog Systems, a Scottish wellbeing company, by Raiys, a Cheshire-based business, marks a significant turning point in the industry. As reported by Daily Business, the transaction has enabled Frog Systems to navigate the uncertainty surrounding its on-demand content service, Ashia, which had been operating despite the challenges faced by its parent company.
Ashia, a robust digital platform boasting an impressive client roster, has secured a new home under the auspices of Raiys, thereby alleviating the uncertainty that had plagued the company. The acquisition is a testament to the growing awareness among organizations regarding their responsibilities in supporting employee wellbeing in the workplace.
As James Murphy, founder and chief executive of Raiys, astutely observes, “We are committed to helping employers and businesses of all sizes create healthy… purposeful workplace cultures across various sectors and job roles.” This acquisition is poised to strengthen Raiys’ position as a leading player in the wellbeing industry, while providing Frog Systems with the opportunity to regroup and reassess its strategy.
The combination ofRaiys and Ashia’s digital offerings promises to create a comprehensive one-stop shop for wellbeing solutions. According to Phil Worms, former chief executive of Frog Systems, “the acquisition marks a new chapter for the company.”.. as both entities share a commitment to proactive and preventative wellbeing services.
This development is likely to have a profoundly positive impact on the industry, as it presents a unique opportunity for organizations to enhance their wellbeing offerings and better support the wellbeing of their employees. ^^, the acquisition ofFrog Systems by Raiys is a significant milestone in the wellbeing industry, as it underscores the growing importance of employee wellbeing and the need for organizations to provide comprehensive wellbeing solutions.
As Daily Business reports, “this transaction will enable Frog Systems to regroup and reassess its strategy,” while providing Raiys with the opportunity to expand its digital offerings and enhance its proactive wellbeing services.
