Penad Pension Services Ltd. is acquiring Ontario-based SeclonLogic Inc., a defined benefit pension plan and group benefits administration software solutions company.

“I am confident that this transaction will leverage the products and services of the combined firm to the benefit of our clients and partners,” said Matthew Price, president of the Penad Group of Companies, in a press release.

Read: Common Wealth enhances retirement plans with technology partnership

As both Penad and SeclonLogic offerings use the same database management technology, both can now share ideas, technologies, methods and resources, noted the release. The SeclonLogic team will continue to provide pension and benefits software solutions to their respective clients, with a greater depth of technological and human resource services, added the release.