On July 7, 2026, Principal Financial Group announced an agreement to acquire Beam Benefits, an employee benefits company serving more than 25,000 small businesses. Principal currently serves 180,000 employers, providing comprehensive retirement, benefits, and business owner solutions. The acquisition is expected to close in the latter half of 2026, subject to the completion of customary closing conditions and regulatory approvals. Wilson Sonsini Goodrich & Rosati advised Beam Benefits on the transaction.

The acquisition will strengthen Principal's momentum and delivery of above-market growth in the small and mid-sized business market.

The Wilson Sonsini team that advised Beam Benefits on the transaction included:

Mergers & Acquisitions
Ross Tanaka
Cassie Wetzel
Dennise Martinez
Melis Kilic
Jessica Li

Corporate
Matt Dubofsky
Leah Hengemuhle

Corporate Finance
Dana Hall
Roshanne Arathoon

Technology Transactions
Rob Parr
Andrew Poling
Mary O'Brien
Isabel Annino
Anna Weber
Bryce McKay

Tax
Myra Sutanto Shen
Rob Sherrill

Real Estate
Sean Wilkinson
Alex Corluyan
Moncarol Wang

Employee Benefits and Compensation
Madeleine Boshart
Michael Klippert
Lori Howey
Jason Chan
Laura Yun
Sophia Friedfertig
Matt Gorman
Chimene Cooper

Data, Privacy, and Cybersecurity
Matthew Staples
Michael O'Brien
Kimia Favagehi

Antitrust and Competition
Jamillia Ferris
Michelle Yost Hale
Deirdre Carroll
Kimberley Biagioli
Julius Giesen
Evan Moore

Regulatory
Andrea Linna
Nawa Lodin

National Security and Trade
Mark Bass
Seth Cowell
Anne Seymour