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Ascensus to Acquire 401(k) Recordkeeping Business from Mutual of Omaha to Enhance Retirement Services

Mar 27, 2024•over 1 year ago

Acquiring Company

Ascensus

Acquired Company

Mutual of Omaha

DresherFinancial ServicesNon ProfitHealth Care

Description

Ascensus has entered into a definitive agreement to acquire Mutual of Omaha's 401(k) recordkeeping business. With this acquisition, Ascensus will assume full responsibility for the recordkeeping business, serving more than 2,300 retirement plans and 65,000 savers with over $3.9 billion in assets under administration. The transition will provide plan participants with access to an enhanced suite of solutions and capabilities.

Company Information

Company

Ascensus

Location

Dresher, Pennsylvania, United States

About

Ascensus is a market-leading enabler of tax-advantaged savings—providing technology, services, and expertise that help millions of people save for a better future. The company is a premier savings program service provider, third-party administrator, and government savings facilitator. Its platforms, industry knowledge, and data-based insights enhance the growth and success of its partners, their clients, and savers through co-branded, private-labeled, and governmental partnerships.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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