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HealthEquity closes WageWorks acquisition

HealthEquity Inc. has completed its acquisition of WageWorks Inc.

HealthEquity also disclosed it will invest between $80 million and $100 million over the next 24 to 36 months to improve service and strengthen data security and privacy protections.

In June, HealthEquity agreed to purchase WageWorks' entire issued and outstanding common shares at $51.35 apiece in cash, for a total enterprise value of about $2 billion.