The longtime rivalry between Info-One/VARDS and AnnuityNet will soon be a thing of the past. AnnuityNet and Wachovia Insurance Agency, which owns Info-One/VARDS, will soon be merged.
Talk of Wachovias interest in getting rid of Info-One/VARDS had been rife within the annuity industry. The venture is said to have lost more than $10 million last year. Furthermore, Wachovia has been disposing of non-core technology businesses.