Prudential Spends $2.35 Billion to Make Financial Wellness Boost Growth
September 11, 2019 by Allison Bell
Securities analysts have been asking executives from Prudential Financial Inc. when the company’s financial wellness outreach strategy will lead to higher sales.
Prudential announced Thursday that it is making a deal that could help convert financial wellness outreach into sales.
The Newark, New Jersey-based company has agreed to pay $2.35 billion up front to acquire Assurance IQ Inc. of Bellevue, Washington.
If the Assurance IQ unit meets Prudential’s growth objectives, Prudential could make up to $1.15 billion in additional stock and cash payments.
Prudential and Assurance IQ say they hope to complete the deal between Sept. 30 and end of the year.