Continuing an acquisition spree, First Data Investor Services Group has purchased United States Pension Services, a retirement plan administrator in Tampa.
Terms of the agreement, which First Data announced last week, were not disclosed.
First Data, a Westborough, Mass., mutual fund services company, said the acquisition brings to $15 billion the retirement plan assets it services, including about $5 billion by United States Pension.
"These guys have done a good job on the low end of the market, or 'small market,'" said Jack P. Kutner, president of First Data.
United States Pension Services provides defined contribution and defined benefit services to more than 4,350 plans. The deal is First Data's third acquisition in 10 months. In September it bought Funds Associates Ltd., a technology company in Berwyn, Pa. In March it acquired FPS Services, a fund services company in King of Prussia, Pa.
First Data administers about $640 billion of assets.