Webster Financial to acquire Boston tech company for HSA Bank

PROVIDENCE – Webster Financial Corp. recently announced plans to acquire a Boston-based technology company to bolster its health savings account bank services, according to a news release.

The acquisition of Bend Financial Inc. will allow Webster to integrate Bend’s cloud-based HSA platform into its services for its own HSA Bank. Bend will continue to operate and serve its own clients under the terms of the agreement, the release stated.

The value of the deal was not disclosed. It is expected to close in the first quarter of 2022.

Nancy Lavin is a PBN staff writer. Contact her at Lavin@PBN.com.

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