Alliant Insurance Services, a national insurance brokerage based in Newport Beach, Calif., has acquired Spokane-based insurance and employee-benefits brokerage Moloney O’Neill, the companies announced this morning.

Terms of the transaction weren’t disclosed.

Moloney O’Neill’s executive leadership will continue to operate the company under its current name and brand, and the partners in the Spokane company will maintain a “significant equity stake” in Alliant, the release said.

Prior to the acquisition, Alliant didn’t have offices in the Inland Northwest, but it operates a Northwest branch office based in Seattle. Moloney O’Neill’s employee benefits and life divisions will join that operation.

Tom Corbett, chairman and CEO of Alliant, said in a press release, “This acquisition will merge (Moloney O’Neill’s) extensive service offerings with Alliant’s deep resources and national platform.”

Founded in 1947, Moloney O’Neill has offices in Spokane and Coeur d’Alene and employs just under 100 people. The company currently serves about 600 clients ranging from small businesses to large corporations with thousands of employees. Industries in which its clients are involved include manufacturing, engineering, financial services, education, and others.

Alliant Insurance Services has more than 26,000 clients nationwide, including public entities, tribes, health care organizations, energy concerns, and those working in a number of other industries.