Voya - M&A Summary and Business Overview

Financial ServicesCompany

Voya M&A Summary

Voya has acquired 3 companies, including 2 in the last 5 years. It has also divested 2 assets.

Voya’s largest acquisition to date was in 2022, when it acquired Benefitfocus for $570M. It’s largest disclosed sale occurred in 2019, when it sold Voya Financial - Individual Life Business In-force Business to Resolution Life Holdings for $1.3B. Voya has acquired in 3 different US states. The Company’s most targeted sectors include business services (34%) and financial services (34%).

Voya Business Overview

Where is Voya headquartered?

Voya is headquartered in New York, New York.

What is Voya’s revenue?

Voya disclosed revenue of 5,804M USD for 2022 and 3,682M USD for 2021.

How many employees does Voya have?

Voya has 5,940 employees.

What sector is Voya in?

Voya is a financial services company.

When was Voya founded?

Voya was founded in 1999.

M&A Summary

  • M&A Total Activity5
    • M&A Buy Activity3
    • M&A Sell Activity2
  • Total Sectors Invested 3
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 4
  • M&A Advisors 4

Voya

Voya Financial, Inc.

230 Park Avenue,
New York, New York 10169
United States,
(212) 309-8200
www.voya.com

Voya is a diversified financial services company. Voya offers retirement, investment, and insurance products within the US. Voya was formerly known as ING US and was spun out of ING in 2013. Voya was founded in 1999 and is based in New York, New York.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 1 - 1 1 - - 3
vol $570M $570M
Sell (0.0/yr) # 2 - - - - - 2
vol $1.3B $1.3B
  5

Most Recent M&A

Company Date Value Type
Benefitfocus, Inc. 2022-11-01 570M USD Going Private
Charleston, South Carolina · www.benefitfocus.com
Benefit Strategies LLC 2021-05-10 - Add-on Acquisition
Manchester, New Hampshire · www.benstrat.com
Voya Financial, Inc. - Individual Life Business In-force Business 2019-12-18 1.3B USD Divestiture
New York, New York
Pen-Cal Administrators, Inc. 2018-05-11 - Add-on Acquisition
Pleasanton, California · www.pencal.com
Venerable Holdings, Inc. 2017-12-21 - Divestiture
West Chester, Pennsylvania · www.venerableannuity.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 1 (33%) - 1 (50%) -
Business Services 1 (33%) - - -
Internet Software and Services 1 (33%) 570M (100%) - -
Insurance - - 1 (50%) 1.3B (100%)
Total 3 $570M 2 $1.3B

By Geo

State/Country Buy Value Sell Value
United States 3 570M 2 1.3B
  New Hampshire 1 - - -
  California 1 - - -
  South Carolina 1 570M - -
  Pennsylvania - - 1 -
  New York - - 1 1.3B
Total 3 $570M 2 $1.3B

Top M&A Advisors

Financial Deals
Goldman Sachs
 1
Legal Deals
Willkie Farr & Gallagher
 1
Cleary Gottlieb Steen & Hamilton
 1
Eversheds LLP
 1

Deal Values

buy # Total
$100M to $1B 1 $570M
TOTAL $570M
Largest Benefitfocus, Inc.
$570M (2022-11-01)
sell # Total
> $1B 1 $1.3B
TOTAL $1.3B
Largest Voya Financial, Inc. - Individual Life Business In-force Business
$1.3B (2019-12-18)

M&A Connections

Deals
Divested to
Investor(s)
50%
1 (50%)
Strategic(s)
50%
1 (50%)

Company Summary

SECTOR

Financial Services

Revenue

5,804   58% 2022
3,682   52% 2021
7,649   3% 2020
7,476   13% 2019
8,514   2% 2018
8,618   21% 2017
10,782   5% 2016
11,341   3% 2015
11,071   27% 2014
8,756   9% 2013
9,615   2012
(millions of USD) Show More Show Less

Employees

5,940

Established

1999

Public

NYSE: VOYA

Former Name

ING U.S., Inc.

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