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PROVIDENCE, R.I. (AP) — An employee well-being company owned by British billionaire Richard Branson says it will merge with its rival and make Providence the new corporate headquarters.

In an announcement Monday, Virgin Pulse says its merger with Minneapolis-based RedBrick Health will create the “world’s largest, most comprehensive digital health and engagement company.”

The financial terms of the merger have not been released.

A spokeswoman for Virgin Pulse says it has 591 employees worldwide, including 207 in Providence. She says RedBrick has about 450 employees.

She said expects the merger to lead to more hiring in Providence.

The merger was announced six months after Virgin Pulse said it was moving its global headquarters from Massachusetts to Rhode Island.

The state has offered the company $5.7 million in tax credits.