Insurance core systems provider Majesco has acquired Agile Technologies, an IT consultancy focused on the insurance industry. Majesco's goal is to expand its product portfolio to include consulting and other services beyond just software, according to CEO Ketan Mehta.
"Majesco has been on an aggressive growth path, adding new capabilities, growing our customer base and expanding into new geographies while keeping a laser-sharp focus on meeting the technology needs of just one industry," Mehta states. "Agile has an excellent reputation in the industry with a high-quality talent pool of over 50 insurance technology professionals, domain depth, and a satisfied customer base. Our customers and the insurance industry at large will benefit from our combined strength in creating and executing carriers’ data strategy, business process optimization, and business intelligence projects."
The deal, terms of which were not disclosed, is expected to close in January 2015. Agile has 20 customers to Majesco's more than 100, according to the companies.
"We have sought to meet our customers’ broader technology needs across the insurance value chain with a range of software and solutions with global delivery capabilities," said Bill Freitag, Agile Technologies founder, in a statement. "We see this development as a natural extension of our relationship -- a great marriage of software, consulting, and services, and a shared vision of the value well-implemented technology solutions can deliver to customers."
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Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio