Principal to acquire the employee stock ownership plan business from Ascensus.

Principal, a global financial company, agreed to acquire the employee stock ownership plan business from Ascensus, an enabler of tax-advantaged savings—providing technology, services, and expertise. Financial terms were not disclosed. “Growth is an integral part of our retirement strategy at Principal, and we’re excited to add scale and deepen our expertise with the addition of experienced talent and solutions from Ascensus. This acquisition strengthens the systems and capabilities that have made Principal a leader in retirement,” Teresa Hassara, Principal Senior Vice President of workplace savings and retirement solutions.