Insurance agency technology vendor Vertafore said that its subsidiary Sircon will acquire Indianapolis, Indiana-based Kaplan Compliance Solutions (KCS), which sells insurance and securities software and services. Terms of the transaction were not disclosed.
KCS, an operating unit of Kaplan University’s School of Professional and Continuing Education (KU PACE), offers services for producer contracting, securities registration, insurance licensing and appointing, education tracking, renewal and data management. Kaplan Inc. is a subsidiary of The Washington Post Co. and its largest division.
As part of the acquisition, KU PACE and Vertafore have also entered into a joint marketing agreement. KU PACE will be a preferred education services provider for KCS/Sircon customers.
The acquisition is expected to close late third or early fourth quarter 2011, subject to customary closing conditions.
Vertafore is based in Bothell, Washington. Vertafore says it has 17,000 customers and 500,000 users.
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