Acquisition Will Add Compliance-First Leave Product and AI-Enabled Workflows
for TriNet Clients and Their Employees

DUBLIN, Calif., April 9, 2026 /PRNewswire/ -- TriNet (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs), today announced it has entered into a definitive agreement to acquire Cocoon, a market leader in leave management technology. Upon completion of the deal, the strategic acquisition will strengthen TriNet's leave of absence (LOA) offering, with the addition of a robust and intuitive compliance-driven product that improves both the employer and employee experience at every touchpoint.

"An employee's leave of absence often represents a pivotal moment in the relationship with their employer. It provides an opportunity to foster trust and provide meaningful support amid an increasingly complex landscape of corporate policies, insurance coverages, and statutory leave laws," said Mike Simonds, TriNet president and CEO. "Our acquisition of Cocoon, integrated with our proprietary platform and service delivery, will enable TriNet clients to stand out for their care and commitment to employee well-being, while helping to ensure corporate compliance."

Simonds added, "We look forward to welcoming Cocoon's talented team and clients to TriNet, and we are committed to a smooth transition and continuing to build out an exceptional employee benefits offering."

Cocoon will strengthen TriNet's platform with a compliance‑focused leave of absence (LOA) solution designed to deliver a seamless, end‑to‑end experience for employees and administrators. Its automated workflows and rich leave data will support the development of AI‑enabled capabilities that help ensure compliance, strengthen governance, and enable smarter leave management decisions. TriNet clients will benefit from an easy-to-use interface, real‑time leave information, integrated claims filing with state and disability carriers, and automated payroll calculations and tracking. Cocoon's current customers and channel partners will benefit by gaining access to TriNet's extensive resources and decades of HR solutions expertise. Bringing the Cocoon team into TriNet will further accelerate innovation through strong product development and design expertise.

"TriNet shares our vision for transforming leave management into an empowering experience for both employers and employees," said Mahima Chawla, CEO and Co-founder of Cocoon. "Joining TriNet allows us to significantly scale our impact to a broader audience and further our commitment to delivering innovative and intuitive solutions to HR's biggest pain points. The Cocoon team looks forward to integrating with TriNet and delivering a truly unified leave experience that addresses the needs of today's workforce and tomorrow's challenges."

Upon deal close, Cocoon will become a wholly owned subsidiary of TriNet. The acquisition is expected to close this month, subject to customary closing conditions, including the receipt of regulatory approvals. Financial terms of the acquisition were not disclosed, and the acquisition of Cocoon is not expected to have a material impact on the Company's financial guidance for 2026.

About TriNet
TriNet is a leading provider of Human Resources solutions for small and medium-size businesses, offering advanced technology-enabled services that include human capital expertise, employee benefits such as health insurance and retirement plans, payroll and payroll tax administration, risk mitigation, and compliance consulting. Our long-term objective is to be the premier provider of HR services for a broad range of SMBs through industry leading benefits, sales distribution excellence, and a world class services delivery model. For more information, visit TriNet.com or follow us on Facebook, LinkedIn and Instagram.

About Cocoon
Cocoon is a leave management platform that uses first-of-its-kind technology to take the work out of employee leave. They partner with People teams at forward-thinking companies to save them hours per week, mitigate risk, and reduce stress for employees. Unlike traditional solutions, Cocoon's software automates the most complex parts of compliance, claims, and payroll for a more reliable, modern, seamless experience. Founded in 2020 by former Stripe and Square leaders, Cocoon is backed by Index Ventures, First Round Capital, and other prominent technology investors.

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SOURCE TriNet Group, Inc.