Majesco Completes Acquisition of Insurance Business of Agile Technologies
Combined insurance experience, software, and consulting portfolio strengthens company’s position to enable rapid growth and global customer support
New York, NY, February 11, 2015– Majesco, the global provider of core systems and services to the insurance industry, announced it has completed the acquisition of the business of Agile Technologies (Agile), an insurance industry focused technology consulting firm with revenues of over $9 million. In December 2014, Majesco announced that it had signed a definitive agreement to acquire the insurance business of Agile Technologies.
With the addition of Agile Technologies’ strong consulting and insurance technology expertise, Majesco has enhanced its portfolio of insurance-related software and services to support and accelerate the company’s aggressive growth plans. Agile is now fully integrated into Majesco and will operate under the ‘Majesco’ brand.
Ketan Mehta, CEO and founder of Majesco said, “We are pleased to announce the completion of the Agile Technologies acquisition. The acquisition has strengthened Majesco’s offerings in business transformation, data strategy and business process optimization. Our customers and the insurance industry at large will benefit from the combined strength of Majesco and Agile.”
All employees including the leadership team at Agile have joined Majesco:
- Bill Freitag, founder of Agile as well as its managing partner and CEO, has joined Majesco as Executive Vice President. In this role he will lead Majesco’s insurance technology consulting business.
- John Johansen, former partner and co-founder at Agile has joined Majesco’s executive team as Senior Vice President with responsibility for leading data strategy & business intelligence at Majesco.
- Robert Buhrle, former partner at Agile, has joined Majesco as Vice President of client servicing.
Commenting on the completed acquisition and Majesco’s growth strategy, Freitag noted,
“Coupled with the breadth and depth of software, insurance solutions, and global delivery capabilities now available under the single Majesco brand, we are extremely well positioned to meet our aggressive global growth goals while staying true to our commitment to work in close partnership with our insurer clients to ensure they derive maximum business value from their technology investments”
To view the original December 12, 2014 press release announcing the definitive agreement for the acquisition, click here.
Majesco is a provider of core insurance technology software and IT services to insurance carriers (P&C and Life, Annuity, Group) worldwide. Majesco delivers proven software solutions and IT services in core insurance areas including policy administration, billing, claims and distribution. As a part of its strategic initiatives, Majesco announced the consolidation of the group’s global insurance business into a single entity. In December 2014, Majesco announced that it has signed a definitive agreement to merge the business of Cover-All Technologies (NYSE MKT: COVR) with Majesco*.
*Press Release: Cover-All to merge with Majesco
Tara Dilzer Alexander
Director, Marketing Communications and Creative Services