AMS Parent Vertafore to Acquire Licensing, Compliance Vendor Sircon

June 13, 2008

Vertafore, Inc., a provider of software and services to the insurance industry including AMS Services, has agreed to acquire licensing and compliance software maker Sircon Corp.

Michigan-based Sircon serves carriers, agencies and brokers, education providers and state regulators through online services that manage compliance and producer information and help agents get licensed and appointed faster.

Euan Menzies, president and chief executive officer of Vertafore, said the acquisition of Sircon will expand Vertafore’s ability to help companies and individual producers keep track of requirements needed to sell insurance in all 50 states.

More than 1,500 insurance carriers use Sircon’s Producer Express, Compliance Express, Producer Manager, Reference Express and data reconciliation services to help manage their producer records. Insurance agencies and brokers use Sircon to automate the management of their agents. The products streamline the recruiting, contracting and hiring process, as well as licensing, appointing.
renewals, continuing education tracking and demographic changes.

Vertafore’s principal operating entities are AMS Services, SilverPlume and ImageRight. AMS Services provides agency software to more than 15,000 independent insurance agencies and 150,000 users.

The acquisition is expected to close prior to July 30, 2008, subject to customary closing conditions.

Sources:
Sircon Corp.
www.sircon.com

Vertafore, Inc.
www.vertafore.com

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