Webster To Buy Bend Financial; Terms Not Known

(RTTNews) - Commercial lender, Webster Financial Corporation (WBS), said on Wednesday that it has signed a definitive deal to acquire Bend Financial, Inc., a cloud-based platform solution provider for health savings accounts or HAS.

The financial terms of the transaction, expected to be completed in the first quarter of 2022, have not been disclosed.

Tom Torre, CEO of Bend, said: "Our goal is to simplify healthcare saving and make it easy for everyone to manage their long-term financial wellness. We're excited that this transaction allows us to expand on that mission."

Bend's client-facing experience utilizes cloud native technology and user-centered design to offer a simplified and modern approach to HSA management and engagement.