Earlier in January this year, Alight Solutions, a leading cloud-based provider of integrated digital human capital and business solutions, and Foley Trasimene Acquisition Corp., had announced that they have entered into a definitive business combination agreement. Upon closing of the transaction, the combined company would operate as Alight, Inc. and plans to list under the symbol ALIT. The transaction reflected an implied pro-forma enterprise value for Alight of approximately $7.3 BN.
On 6th July, 2021, the newly formed merged company gets listed on the New York Stock Exchange and goes public. Alight, Inc.’s Class A common stock and warrants will begin trading on the New York Stock Exchange (“NYSE”) today, under the ticker symbols “ALIT” and “ALITW,” respectively. To commemorate the merger and the first day of trading, Chief Executive Officer Stephan Scholl, Chief Financial Officer Katie Rooney, and other members of the company’s management team were present to ring the opening bell at the NYSE.
William P. Foley, II, Founder of Foley Trasimene and the new Chairman of Alight, commented, “I am very excited to complete our business combination with Alight and begin working with Stephan and the entire Alight management team. We have a tremendous opportunity for growth ahead led by our BPaaS transformation and M&A initiatives."
Alight is already one of the industry leaders for employee engagement as the company’s scalable platform serves over 36 million employees and their family members and is installed in 50% of the Fortune 500.
Stephan Scholl, CEO of Alight, said, “A company has no greater asset, responsibility, or opportunity than to take care of and empower its employees. The lingering impact of the pandemic coupled with the global talent shortage has made this truer today than ever before."
"As a public company, Alight will continue to invest in our business and technology, like Alight Worklife platform, to deliver solutions across health, wealth and global payroll, that drive employee engagement and provide meaningful outcomes for our clients and their people while delivering value to our stakeholders," shared Stephan.
With more than 25 years of operating history, Alight provides mission-critical solutions across health, wealth and global payroll—connecting the dots between people, work and life to help employees stay healthy, gain financial security, and make better decisions in these areas to improve their overall wellbeing. Alight’s business process as a service (“BPaaS”) solutions provide the systems, tools and technologies employees need to maximize the value of their benefits and improve outcomes, driving increased productivity and helping employers develop high-performance cultures. As it goes public, it enters a new phase of growth for itself and also creates an inspiration for other emerging HR solutions providers.