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| Thu, Nov. 20, 2008 |  |
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Stephens subsidiary buys Tennessee firm Tuesday, Jul 22, 2008 Arkansas News Bureau LITTLE ROCK - Mutual Assurance Administrators Inc., an affiliate of Stephens Inc., has acquired Pittman and Associates Inc. of Tennessee, the businesses announced Monday. Founded in 1975, MAA is a third-party administrator for insurance and benefit claims. Pittman is a 27-year-old employee benefits firm located in Memphis, Tenn. Terms of the transaction were not disclosed. Pittman & Associates staff will remain in place and its business operations and name will remain unchanged. "Healthcare and other benefits are financed and delivered on a local level; Pittman has impressed us with their long-term relationships in Memphis and the surrounding locales," MAA President Todd Archer said. "We felt that Pittman exemplifies our commitment to the mid-South market, and that the firm would complement our business initiatives." MAA now operates five third-party administrators in Arkansas, Missouri, Oklahoma, Tennessee and Texas. |
