MajescoMastek acquires Kognitio data migration offering
January 20, 2010
MajescoMastek, a high-end IT solutions player with global operations providing new technology and intellectual property (IP)-led enterprise solutions, today announced the acquisition of Kognitio’s data migration offering comprising its Data Factory Tool Kit (DFTK) and data migration methodology.
With over forty man years of development invested in its software, the DFTK solution provides the technology to support the end-to-end data management environment covering all aspects of data processing in a data migration project. In addition, Philip Magnall, formerly the Vice President – Platform Rationalisation at Kognitio, has joined MajescoMastek and will take on the role of Data Migration Manager, responsible for MajescoMastek’s migration projects and consultancy offerings.
This transaction is the latest in MajescoMastek’s move towards strengthening its position as an IP-led enterprise solutions provider, with Kognitio’s data migration tools and processes embedded at the heart of MajescoMastek’s Migration Centre of Excellence.
For Kognitio, which has long been considered the industry leader in data migration for the insurance market, this transaction allows it to refocus its efforts on its data warehousing proposition and safeguard the future stability of the DFTK solution by incorporating it within a large and well-established organisation like MajescoMastek.
Commenting on this initiative, Mike Brinsford, Global Head of Insurance, MajescoMastek said: “We at MajescoMastek are delighted to have Kognitio’s market-leading offering and expertise as part of our offerings portfolio. For many years Kognitio has been the standard-bearer for excellence in this field and we’re looking forward to combining their technology and methodology into our propositions. We have already completed the process of embedding the systems and carrying out all necessary knowledge transfer, and the DFTK solution is back in the market with a new home. MajescoMastek will continue to explore and leverage opportunities to add excellence to its offerings in order to maintain our position at the top of the software solutions field.”
Roger Llewellyn, CEO, Kognitio said: “This transaction with MajescoMastek is a good move for us. MajescoMastek has an unrivalled reputation in the insurance software market and by transferring Kognitio’s data migration offering to such a well-capitalised company as MajescoMastek we are ensuring its long-term future. We are looking forward to focusing on the next stage of Kognitio’s development which lies in the enhancement of our data warehousing proposition.
Except for the historical information and discussion contained herein, statements included in this release may constitute forward looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those that be projected by these forward looking statements. These risks and uncertainties include, but not limited to such factors as competition, growth, pricing environment, recruitment and retention, technology, wage inflation, law and regulatory policies etc. Such risks and uncertainties are detailed in the Annual Report of the company which is available on the website http://www.majesco.com. MajescoMastek Ltd. undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.
Majesco is a provider of core insurance technology software and IT services to insurance carriers (P&C and Life, Annuity, Group) globally. Majesco delivers proven software solutions and IT services in core insurance areas including policy administration, billing, claims and distribution.
Tara Dilzer Alexander
Director, Marketing Communications and Creative Services