Ascensus Acquires ESOP Economics - Continues to Build ESOP Capabilities with Addition of ESOP Softwa
Dresher, PA—October 16, 2018—Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare—has acquired ESOP Economics. The firm, which provides consulting and software solutions related to employee stock ownership plan (ESOP) repurchase obligations, has joined Ascensus’ TPA Solutions division.
Founded in 1993, ESOP Economics is the only firm that is exclusively focused on helping ESOP companies quantify their future repurchase obligations (i.e., their legal obligation to buy back stock distributed to ESOP participants) and develop strategies for managing and funding them. The firm’s Telescope™ software, developed specifically for the purpose of forecasting ESOP repurchase obligations, is widely recognized as the leading software product in its field. ESOP Economics has completed more than 1,000 repurchase obligation studies, sustainability analyses, and consulting projects during its 25-year history.
“Because repurchase obligations are our sole focus at ESOP Economics, we’ve developed a depth of experience over time that’s unmatched in the industry,” says Judy Kornfeld, founder and chief executive officer of ESOP Economics. “As part of Ascensus, we’ll continue to provide the crucial forecasts and information that clients need to make educated ESOP decisions for the future.”
“ESOP Economics is known not only for its software, but also for its staff’s expertise and the quality of the work it delivers to its clients,” says Jerry Bramlett, head of TPA Solutions. “Adding their reputation, skillset, and experience allows us to provide an even more robust ESOP offering to current and prospective clients.”
“In ESOP Economics, we saw an opportunity to execute on our growth strategy by continuing to invest in and develop TPA Solutions’ ESOP capabilities,” says Raghav Nandagopal, Ascensus' executive vice president of corporate development and M&A. “The associates at ESOP Economics have built a solid business with a strong reputation in the ESOP industry; we welcome Judy and her team to Ascensus.”
Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com.