Longtime Charleston tech firm Benefitfocus agrees to be sold in $570M deal

Post & Courier
John McDermott
October 25, 2022

Benefitfocus Inc., one of the few publicly traded companies headquartered in the Charleston region, is being sold in an all-cash deal valued at $570 million.

The Daniel Island software firm announced that it’s agreed to be acquired for $10.50 a share by Voya Financial Inc., which provides services such as insurance, investments and retirement planning.

The deal, announced Nov. 1, is expected to be finalized in the first quarter next year and is subject to customary closing conditions, including approval by shareholders of Benefitfocus. The company’s board has unanimously signed off on the sale.

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