Majesco, a Morristown-based insurance technology provider, has closed on its previously announced acquisition of InsPro Technologies Corp., it announced on Wednesday.
InsPro, based near Philadelphia, is a software provider focused on the life and annuity insurance market.
“Our acquisition of InsPro Technologies complements and expands one of our key strategic focus areas. We have been investing in our L&A and group business and our solid performance and financial position allow us to continue partnering with companies to accelerate and enable their cloud journey and business transformation,” Majesco CEO Adam Elster said. “We’re excited to welcome InsPro’s Technologies customers to our community and look forward to helping them build the future of their business.”
Nomura Securities International Inc. and Morgan, Lewis & Bockius LLP represented InsPro Technologies in the deal. Needham & Company LLC and Sheppard, Mullin, Richter & Hampton LLP represented Majesco.
