Summit Professional Networks Acquires Pension Data Resource
Company to offer a full spectrum of financial information tools and services.
Summit Professional Networks has acquired Pension Data Resources, Inc., which includes its flagship brand PensionPlanet.com.
Terms were not disclosed.
The deal will greatly expand Summit's portfolio of service tools for financial planners, retirement professionals and financial institutions. The company already owns Judy Diamond Associates, which hosts a suite of products within that realm. Now, this latest acquisition will complement those existing assets, enabling Summit to offer a full range of information service products at multiple price points.
"The team at Pension Data Resources has built a very robust product set with great functionality and a long-standing history of enterprise services," Jeff Patterson, president of Summit's Insurance Group, says in a statement. "In addition to aggressively expanding our strength in the large enterprise segment of our business, this acquisition will enable us to bring expanded services to our individual customers as well."
Summit will also gain Sam Sarcone, PDR's founder and principle owner. He will join the company as president of the PensionPlanet division of Judy Diamond Associates.