HNC Insurance Solutions, a wholly owned subsidiary of San Diego-based HNC Software Inc., recently acquired Celerity Technologies, a provider of connectivity and value-added networks which supports claims processing for the workers’ comp industry. Under the terms of the deal, HNC acquired Celerity’s stock in a merger in exchange for approximately 220,000 HNC shares and $2.4 million in cash. Celerity, based in Columbus, Ohio, was formerly owned by the Frank Gates Companies. Celerity’s products are expected to make a significant contribution in enabling HNC’s Insurance Solutions division to provide an end-to-end electronic claims processing service via the Internet.
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: How Federal Ban on Intoxicating Hemp Products Will Reshape Risk, Coverage 
First Half US P/C Industry Underwriting Gain Jumps to $31.7B 
Floridians Saved Almost $3B on HO and Auto Premiums Last Year, Actuarial Report Finds 
Seven Charged in $100 Million Workers’ Comp Fraud in Florida From This Issue
