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Ascensus to acquire Tennessee-based 3rd-party administration company

Ascensus Inc. has agreed to acquire Avintus LLC, a third-party administration company headquartered in Nashville, Tenn.

Avintus provides payroll processing, retirement plan administrative services and human resources outsourcing solutions. It will become part of Ascensus TPA Solutions.

Ascensus provides solutions to asset managers, banks, credit unions, state governments, financial professionals, employers and individuals. It also administers individual retirement accounts and health savings accounts.