Business technology and services provider Xchanging plc announced that the UK’s Competition and Markets Authority (CMA) has delivered its formal decision to clear the completed acquisition of Agencyport Europe.
Xchanging said the acquisition would “broaden and strengthen its existing insurance software business, Xuber, as well as supporting the company’s strategic objectives to expand its insurance business globally, and to acquire technology and intellectual property that enables greater value generation.”
Chief Executive Ken Lever commented: “We are very pleased to have the final CMA decision. We can now re-launch our integration program to deliver the planned market and synergy benefits.
“Agencyport brings a highly complementary product portfolio that will expand Xuber’s range. We look forward to putting the power of our global presence behind the enlarged portfolio and into the cross-selling opportunities offered by the client base Agencyport brings.”
Xuber’s Executive Director Chris Baker added: “We understand the importance of staying ahead in an evolving and competitive global market. Technology is the catalyst for change and the platform to launch organizations into new territories and business models.
Agencyport is recognized for its forthright culture, commitment to delivery, and openness with clients. Combined with our acquisition of Total Objects, our customers will now be able to engage with a broader team of talented professionals and benefit from an enriched product portfolio.”
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