CLEVELAND, Aug. 1, 2011 /PRNewswire/ — CBIZ, Inc. (NYSE: CBZ) today announced that it has signed a definitive agreement to acquire Multiple Benefit Services, Inc. (“MBS”) effective August 1, 2011.

Founded in 1992 and located in Atlanta, Georgia, MBS provides employee benefit consulting, support and services to 80 clients ranging in size from Fortune 500 companies to those with fewer than 100 employees in a wide variety of industries both nationally and internationally. MBS has 12 employees and recorded approximately $3.5 million in revenue during the past twelve months.

Steven L. Gerard, CBIZ Chairman and CEO, stated, “We are eager to augment our current financial, valuation, mergers and acquisitions, payroll, and insurance services in Atlanta with the employee benefit consulting services provided by MBS. This transaction is consistent with our growth strategy of acquiring premier providers to round out our current markets with a full breadth of CBIZ services.”

Commenting on becoming part of CBIZ, MBS CEO, Marion B. Schremp stated, “We believe that CBIZ’s full suite of insurance and financial services positions MBS to offer significantly expanded resources to our existing client base. This merger also allows us to move forward with and accelerate our own growth plans.”

CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services including accounting and tax, internal audit, merger and acquisition advisory and valuation services. Employee services include group benefits, property and casualty insurance, retirement plan consulting, payroll, HR consulting, and wealth management. CBIZ also provides outsourced technology staffing and support services, healthcare consulting, and medical practice management. As one of the largest benefits specialists and one of the largest accounting, valuation, and medical practice management companies in the United States, the Company’s services are provided through more than 150 Company offices in 36 states.

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, the Company’s ability to adequately manage its growth; the Company’s dependence on the current trend of outsourcing business services; the Company’s dependence on the services of its CEO and other key employees; competitive pricing pressures; general business and economic conditions; and changes in governmental regulation and tax laws affecting its insurance business or its business services operations. A more detailed description of such risks and uncertainties may be found in the Company’s filings with the Securities and Exchange Commission.

For further information regarding CBIZ, call our Investor Relations Office at (216) 447-9000 or visit our web site at www.cbiz.com.

SOURCE CBIZ, Inc.