RolloverSystems Gets Johnson’s Backing3/30/2005 6:06 AM Eastern
Black Entertainment Television founder, chairman and CEO Robert L. Johnson will be the majority investor in a round of financing for RolloverSystems Inc.
RolloverSystems provides technology-based 401(k) and 403(b) rollover products and services for financial institutions, plan sponsors and human-resources-technology companies.
The financing round will total several million dollars, and Johnson is making “a significant equity investment” and will become chairman of RolloverSystems’ board.
“RolloverSystems has a transformative opportunity, and that is very appealing," Johnson said in a prepared statement. "I believe this is the right solution delivered at the right time, and I believe in the RolloverSystems team and the opportunity to invest in a minority-owned company."