Outsourcing firm Capita is set to buy Bluefin Corporate Consulting for £50 million.

With the acquisition, which is on a cash and debt free basis, Capita will also access Bluefin's benefits management technology, which supports key services for Bluefin and 150 large clients.

Bluefin, which iscurrently owned by AXA, provides employee benefits consultancy services. The acquisition will see Bluefin chief executive Nick Burns become head of the combined business.

Paul Pindar, chief executive at Capita, said the acquisition "provides an excellent strategic fit with our existing corporate pensions business, Capita Hartshead". Hartshead also provides data analysis and screening services.He went on to describe Bluefin as having a "market-leading presence in online benefits technology".