Mindtree to Acquire Discoverture, a Leader in Insurance Solutions
- Strategic acquisition extends Mindtree leadership in Property & Casualty packaged solutions
- Gains access to marquee clients; adds 300 experts across US, UK, Canada and India
Warren (NJ), Scottsdale (AZ) and Bangalore (India), January 19, 2015: 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.
Discoverture has a strong track-record of deploying solutions based on major P&C insurance platforms, enabling clients to transition to a more modern, agile environment. The addition of Discoverture, combined with Mindtree’s existing range of technology services and consulting combine for a full-suite of offerings to transform and run a world-class insurance technology platform.
Krishnakumar Natarajan, CEO and MD, Mindtree said, “We continue to successfully implement our strategy of establishing deep expertise in our targeted industry sectors. This acquisition accelerates our journey to be amongst the Top 3 service providers in the Global P&C services industry.”
Gaurav Johri, Senior Vice President, Banking Financial Services and Insurance, Mindtree, said, “P&C insurers must continuously modernize technology and processes to drive business efficiencies and provide an experience that delights their customers. The combination of Mindtree’s P&C expertise with Discoverture’s capabilities will result in a world-class team which will rank among the leaders in this space.”
Steve Addair, President, Discoverture said, “We are excited to be part of the Mindtree team and add our technology and expertise to its large and growing insurance practice. As part of Mindtree, we can now engage our proven skills and technology with its full service capabilities to deliver greater value to insurance clients.”
Founded in 2002 and headquartered in Scottsdale, Arizona, Discoverture has subsidiaries in the UK, Canada and Bhubaneswar, India.The acquisition is subject to customary closing conditions and regulatory approvals. BMR Advisors acted as the sole financial advisors for the transaction.
About Discoverture Solutions
Discoverture Solutions is a premier Information Technology solution provider dedicated to be the long-term strategic partner to clients in the insurance sector. Discoverture combines a thorough understanding of business processes, industry best practices and strategic vendor partnerships to conceive and execute innovative solutions for clients. Discoverture consistently exceed expectations that allows clients to enjoy a measurable return on their IT investment and realize significant business benefits. Discoverture is headquartered in Scottsdale Arizona, USA with offices in United Kingdom, Canada and India and has the ability to service clients globally. For more information, please visit www.discoverture.com
Mindtree [NSE: MINDTREE] delivers technology services and accelerates growth for Global 1000 companies by solving complex business challenges with breakthrough technical innovations. Mindtree specializes in e-commerce, mobility, cloud enablement, digital transformation, business intelligence, data analytics, testing, infrastructure, EAI and ERP solutions. We are among the fastest growing technology firms globally with more than 200 clients and offices in 14 countries.