MindTree declare that it has successfully closed the acquisition of entire ownership interest in Discoverture
Solutions LLC, after securing necessary regulatory approvals.
M2 EQUITYBITES-January 20, 2015-Mindtree to Acquire Insurance Software Company Discoverture
Solutions, a global leader in IT services and solution to the insurance industry, announced today that RLI Corp.
MindTree Ltd declared that its board has granted approval for the acquisition of the entire Ownership Interest in Discoverture
Solutions LLC, a limited liability company incorporated under the laws of the Arizona, United States.
In addition to the space required by the company's rapid growth, Discoverture
wanted a headquarters office that provided a modern work environment with the amenities ideal for hosting is clients, prospective clients, and partner organizations.
Mindtree Ltd, a mid-size IT services firm will buy US-based insurance related IT solutions provider Discoverture
Solutions LLC, in a cash deal worth $15 million.
Commenting on the new facility, Discoverture
President Steve Addair said, "We have enjoyed tremendous success since our founding in 2002 and are pleased to say that we had outgrown our previous facility.
The company also said it has acquired a US-based technology company, Discoverture
Solutions, for $15 million in an all-cash deal, with which
amp; PHOENIX -- edge IPK, a provider of insurance solutions which enable a secure, browser-based, internationalized presentation layer to provide all distribution channels an ideal user experience, and Discoverture
Solutions, a leading IT solution and services provider specializing in the property/casualty insurance industry, today announced details of a newly-established strategic partnership between the two companies.
Mindtree, a global technology services company, today announced that it has entered into definitive agreements to acquire Discoverture
Solutions LLC (Discoverture
), a leading provider of insurance solutions based in the US.
Delivery partners include Avanade, Discoverture
, Syntel, and TCube, all of whom offer configuration and systems integration accelerators.
Implementation of these solutions was managed by Discoverture
Solutions, a strategic delivery partner for the Accenture Duck Creek software.