India, Aug. 4 -- Hartford Financial Services Group Inc.(HIG) announced on Tuesday that it has entered into a definitive agreement to acquire Equitable Holdings Inc's Employee Benefits business, a deal representing about $500 million in premium that targets growth with small and midsize employers.
Financial terms of the deal were not disclosed by the company.
The Hartford will also acquire Equitable's Employee Benefits technology, which is expected to enhance employee, employer and broker experiences with unified digital capabilities and real-time API integrations. Approximately 300 employees who support the acquired business will join the Hartford, upon closing.
The companies will work together to support mutual customers through the tra...