Gleason Spins-Off Tech Division

September 23, 2002

The Gleason Group, a Philadelphia-based property and casualty insurance broker, announced the spin-off of its technology unit that develops and implements the company’s GleasonESP hazard management system.

The new concern will be known as Gleason Technology Inc., and will focus on the marketing, sales, research and development of additional applications for the GleasonESP system.

According to the company, the spin-off will enable Gleason’s hazard management technology to more effectively reduce slip/fall claims in supermarkets and other retail stores.

Gleason Technology’s projected sales for 2002 are $1.2 million, set to grow to $5.9 million by 2006. The company will expand distribution through strategic arrangements in the insurance brokerage industry through brokers who focus on the supermarket industry. Gleason Technology will also target major public and private chains for direct sales.

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