Digital employee wellbeing firm, Raiys, has acquired content streaming service, Ashia.
It said the move was “another leap forward” for its growth strategy and is its second acquisition, following The Healthy Employee last year.
Ashia was developed by Glasgow-based Frog Systems, which went into administration in July.
Frog said that it had been a “challenging time” due to uncertainty about ongoing research and development tax credit reviews. This, it said, had frustrated attempts at attracting new funding streams to provide working capital and accelerate growth, “despite interest from potential investors.”
It appointed Craig Morrison and Brian Milne, Managing Directors of business advisory firm Quantuma, as joint administrators, which led to the sale of the Ashia business and assets to Raiys.
The deal will safeguard the jobs of all 9 staff, which have transferred to Raiys.
“Like Raiys, we are passionate about the value of proactive and preventative wellbeing services and the role that digital technology plays in helping employers to create healthy workplaces,” said Frog Systems’ former Chief Executive Phil Worms.
“It has been a challenging time for the company, but I believe that bringing Raiys and Ashia together is a fantastic outcome and we are excited for what we can achieve together as a genuine one-stop shop for wellbeing solutions.”
Ashia (which means life and hope in Arabic) provides wellbeing content for businesses. Its clients include Sussex Cricket, The Lowry in Salford Quays and Scottish hire firm, GAP Group.
It offers 16 channels of content, with a library of 8000 videos and podcasts, alongside a UK-wide support directory and thousands of curated digital resources.
“The addition of Ashia gives us an even more powerful offering and enables us to grow the digital side of our proactive wellbeing services as we focus on our goal to provide employers and organisations with all the tools they need to improve the health and wellbeing of their people,” said James Murphy, founder and Chief Executive of Warrington-based Raiys.
“The combined data capabilities of the Ashia and Raiys services will also give existing and new clients access to formidable real-time management data to assist their managers and HR teams with informed wellbeing decision-making. I’m delighted to be able to bring Ashia into our business.”
