PENAD ACQUIRES SECLONLOGIC

Penad Pension Services Limited is pleased to formally announce the acquisition of SeclonLogic, an Ontario-based provider of Defined Benefit Pension Plan and Group Benefits administration software solutions. Penad and SeclonLogic have been serving plan sponsors in the Canadian market for well over 25 years and both are respected for innovative technology and exceptional customer service. The total pension assets now under administration by the Penad Group of Companies platforms is now in excess of $40 Billion.

The SeclonLogic team will continue to provide their high caliber of pension and benefits software solutions to their respective clients by offering a greater depth of technological and human resource services. Both Penad and SeclonLogic have based their solutions on the industry-leading SQL Server database technology and as such will now share ideas, technologies, methods, and resources in order to provide the best administrative solutions possible.

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