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Products January 6, 2001
BISYS Acquires Universal Pensions
June 1, 2001 (PLANSPONSOR.com) - BISYS Group Inc., a
company that automates daily transactions for financial
institutions, has purchased Universal Pensions Inc.
Reported by Camilla Klein
The $85 million cash deal was struck by BISYS in a bid to enhance its position in retirement plan services to include 401(k) plan administration for its financial services clients.
The acquisition of Universal Pensions will be recorded
via purchase method accounting, according to BISYS.
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