Insurance technology firm Majesco said it has completed the acquisition of the insurance business of Agile Technologies, a technology consulting firm with revenues of over $9 million.
In December 2014, Majesco announced that it had agreed to acquire the insurance business of Agile Technologies.
Terms of the deal were not disclosed.
Also last December, Majesco said it planned to merge with Cover-All Technologies, another insurance tech-company, in a deal it said would create an operation with $100 million in annual revenue and a global reach. That deal is expected to close in the 2015 second quarter. Cover-All provides browser-based commercial lines policy, business intelligence, and claims programs.
Majesco said the addition of Agile’s consulting services will support and accelerate the company’s growth plans. Agile is now fully integrated into Majesco and will operate under the ‘Majesco’ brand, the firm said.
All employees including the leadership team at Agile have joined Majesco.
Bill Freitag, founder of Agile as well as its managing partner and CEO, has joined Majesco as executive vice president. He will lead Majesco’s consulting business.
John Johansen, former partner and co-founder at Agile, has joined Majesco’s executive team as senior vice president with responsibility for leading data strategy and business intelligence at Majesco.
Robert Buhrle, former partner at Agile, has joined Majesco as vice president of client servicing.
Majesco provides core policy administration, distribution management, underwriting, billing applications and portals to insurance carriers. The firm is based in New York and has offices in Edison, New Jersey; Glastonbury, Connecticut, and Toronto, Ontario, as well as in India, the United Kingdom, Malaysia, Singapore and Thailand.
Agile has offices in New Jersey, Georgia and Ohio.
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