Empower successfully integrates Prudential Financial Retirement Business
May 02, 2024•over 1 year ago
Acquiring Company
Empower
Acquired Company
Prudential Financial Retirement Business
United StatesFinancial ServicesLendingEmployee BenefitsFinanceFinancial ServicesDescription
Empower has announced the completion of its integration of the retirement business it acquired from Prudential Financial with the goal of leveraging both firms' expertise and scaling Empower's technological and product capabilities. The integration has allowed Empower to gain more clients, participants, and client assets, reinforcing its position as a leading retirement services provider.
M&A Insights
Based on deal dataIntegration 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