Ascensus’ Combination With Newport

Simpson Thacher represented Ascensus in the transaction.

Ascensus, whose technology and expertise help millions of people save for retirement, education and healthcare, announced its proposed merger with Newport, a California-based retirement services provider. The transaction is expected to close in the first quarter of 2022, subject to receipt of regulatory approvals, including review and non-objection by the South Dakota Division of Banking and review and approval by the New Hampshire Banking Department, and satisfaction of other customary closing conditions.

Ascensus is a leading record-keeping services provider, third-party administrator and government savings facilitator in the United States. Through co-branded, private-labeled and other governmental partnerships, Ascensus’ technology, market insights and business knowledge enhance the growth and success of its partners, their clients and savers.

Headquartered in Walnut Creek, California, Newport is a leading retirement services provider that helps employers—and the advisors who serve them—prepare employees for a more financially secure retirement.

The Simpson Thacher team includes Elizabeth Cooper (Picture) and Mark Viera (M&A); David Rubinsky, Jamin Koslowe and Jeffrey Penn (Executive Compensation and Employee Benefits); Jonathan Goldstein and Lina Pan (Tax); Adam Cohen and Spencer Sloan (Financial Institutions); David Blass and Meredith Abrams (FINRA); Brian Robbins and Jeanne Annarumma (ERISA); Lori Lesser, Genevieve Dorment and Bobbie Burrows (Intellectual Property); Dennis Loiacono (Real Estate); Peter Guryan, Rick Jamgochian and Kelly Karapetyan (Antitrust); Steve DeLott (Insurance); and Vanessa Burrows (Healthcare).

Involved fees earner: Meredith Abrams – Simpson Thacher & Bartlett; Jeanne Annarumma – Simpson Thacher & Bartlett; David Blass – Simpson Thacher & Bartlett; Bobbie Burrows – Simpson Thacher & Bartlett; Adam Cohen – Simpson Thacher & Bartlett; Elizabeth Cooper – Simpson Thacher & Bartlett; Steven DeLott – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Richard Jamgochian – Simpson Thacher & Bartlett; Kelly Karapetyan – Simpson Thacher & Bartlett; Jamin Koslowe – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; Lina Pan – Simpson Thacher & Bartlett; Jeffrey Penn – Simpson Thacher & Bartlett; Brian Robbins – Simpson Thacher & Bartlett; David Rubinsky – Simpson Thacher & Bartlett; Spencer Sloan – Simpson Thacher & Bartlett; Mark Viera – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Ascensus;