Last month, the company had inked definite pact to acquire US-based Discoverture
Solutions LLC, a provider of insurance solutions for a consideration of around $15 million.
In the meeting, the board has also agreed to buy specified assets of Discoverture
Solutions India Private Limited, a company incorporated under the Companies Act, 1956 and having its registered office at Ground Floor, IDCO Plot No.
20 January 2015 - India-based technology services company Mindtree (NSE: MINDTREE) has entered into definitive agreements to acquire US-based insurance solutions company Discoverture Solutions LLC, the company said.
Discoverture deploys solutions based on major P/C insurance platforms.
Founded in 2002 and headquartered in Scottsdale, Arizona, Discoverture has subsidiaries in the UK, Canada and Bhubaneswar, India.
According to the agreement, Mindtree will also buy specified assets of its Indian venture Discoverture Solutions India.
Established in 2002, Scottsdale-based Discoverture has subsidiaries in the UK, Canada and India.
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.
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 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.