HNC Insurance Solutions, a wholly owned subsidiary of San Diego-based HNC Software Inc. recently acquired Celerity Technologies, a provider of connectivity and value-added networks which support claims processing for the workers’ comp industry.
Under the terms of the deal, HNC acquired Celerity’s stock in a merger in exchange for approximately 220,000 HNC shares and $2.4 million in cash. Celerity, based in Columbus, Ohio, was formerly owned by the Frank Gates Companies.
Celerity’s products are expected to make a significant contribution in enabling HNC’s Insurance Solutions division to provide an end-to-end electronic claims processing service via the Internet.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Florida Judge Cans Investment Funds’ Lawsuit vs. Lighthouse Insurance Exec 
Thomson Reuters Detects Cyber Incident, Says Unauthorized Party Accessed Files 
Federal Judge Cautions State Farm Against Gambling With Courts 
Judge Throws Out Bulk of Economic Claims Over Baltimore Bridge Tragedy 
