WMSI is planning to operate the combined company from its existing offices currently located in New York City, New York and Waltham, Massachusetts.
WMSI said that it will continue to support and develop the full line of WMSI and Archimedes product offerings that includes Rollover Central, Advisor Rollover Network, Call Center Application, Automatic Rollover Solutions, Participant and Advisor Calculators, College and Retirement Planning web and mobile-based tools, Personalized Communications and Benefit Statements.
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The transaction officially closed on 1 October 2012, and it doubled WMSI’s client and employee bases.
John Geli has been appointed as the CEO of the combined entity, while Warren Hadley, the current president of Archimedes Systems Inc., will continue in his current role overseeing all daily Archimedes operations reporting directly to Geli.
According to WMSI, the transaction has led to an increase in the size of WMSI’s business and has strategically aligned the company’s goals of leveraging technology to expand product solutions and service offerings.
WMSI CEO John Geli said: "This acquisition is an important step forward for WMSI and emphasizes our commitment to developing new and innovative technology solutions for our clients. The combined strength of our two organizations will allow us to create greater overall value across a broader sector of the financial and employee benefit markets beyond distribution and rollover services."
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