OnCentive, a leader in tax credits and business incentives, today announced that it has completed the acquisition of SyncStream Solutions, LLC, the first-to-market comprehensive ACA compliance and reporting technology platform.
"We are thrilled to announce our acquisition of SyncStream Solutions and welcome their clients, partners, and employees to OnCentive," said OnCentive CEO & Co-Founder Shannon Scott. "Adding SyncStream's robust ACA compliance toolset into OnCentive's expanding portfolio allows us to further increase clients' profitability by increasing their government compliance and mitigating their financial risk."
The SyncStream employees will remain based out of New Orleans, LA, and will have the expanded resources of OnCentive’s Birmingham, AL headquarters and nationally-located sales team. Scott will assume the role of CEO of SyncStream, shifting SyncStream’s interim CEO, Kevin Anhalt, to Chief Revenue Officer to grow strategic partnerships.
“Today's announcement brings to market a powerful combination of technology and expertise to enable organizations of all sizes to effectively seize opportunities and remove barriers to business growth,” said SyncStream’s Kevin Anhalt. “I've personally known OnCentive’s CEO, Shannon Scott, for over 12 years, and have long admired the skills and knowledge he brings to building dynamic, successful companies, and the inclusive, support-focused cultures he promotes. Team SyncStream is excited about working alongside Team OnCentive, to provide our clients with continuity as well as expanded support and expertise, which will get them - and us - to the next level.”
Both companies share the same dedication to compliance and risk mitigation and delivering simplified solutions to an employer's complex problems. The acquisition gives SyncStream’s 4,000 clients access to OnCentive’s state-of-the-art tax credit toolset and 100 years of combined tax credit expertise. The joint capabilities of the two organizations create a technology offering that provides clients the ability to navigate government compliance and capture government hiring incentives with minimal effort.
“OnCentive’s mission is to democratize business incentives by making it easy for business owners of any size to leverage complex government programs that can quickly increase their profitability,” said Lindsay Morton, Chief Growth Officer of OnCentive. “Using the same employee data, we can now help business owners identify and capture lucrative tax credits, track their ACA compliance, and increase their company’s profitability, all without complicated paper processes and time-consuming manual labor.”