Pyramid Acquires Rights to Emplanet Retirement Technology

March 18, 2003 ( - Pyramid Digital Solutions has acquired rights to technology developed by Emplanet, an online 401(k) provider which stepped away from the recordkeeping business late last year.

Dharmesh Shah, Pyramid president and chief executive, said in a statement this his company was particularly interested in leveraging Emplanet’s data warehousing and content management programs with Pyramid’s products.  Pyramid is a retirement plan software and service provider.

Emplanet announced in November 2002 that it was laying off 44 of its 79-member staff and working with its current client load of 400 retirement plans to find a new RK vendor. The company said it planned to go forward as a technology provider     (See  Emplanet Exits Recordkeeping Business ).

Several days before that, the company announced that chief executive officer and co-founder Doug Manchester had left and that two other executives had been promoted to fill in the management gaps (See  Emplanet Hit With Management Shakeup ).