Voya Financial has been exploring the possibility of acquiring benefits administrator Alight, according to news reports.

New York-based Voya has studied the purchase of Las Vegas-based Alight, but a deal isn’t guaranteed, and it’s not clear whether the companies are in active discussions, people familiar with the matter who asked to remain anonymous tell Bloomberg.

Representatives for both firms didn’t respond to the news service’s requests for comment.

Alight went public only last month, after successfully completing a special purpose acquisition company merger with Foley Trasimene Acquisition, a blank-check company founded by investor Bill Foley, Bloomberg writes. In the merger, Alight was valued at $7.3 billion, according to the news service.

Alight’s record-keeping business included over 4 million plan participants as of the end of 2020, FA-IQ sister publication Ignites wrote in January, when the SPAC merger was announced.

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