MTW Corp., a Kansas City, Kan.-based software company, in July was acquired in whole for approximately $85 million by London, U.K.-based The Innovation Group, with consideration being split between cash, loan notes and the issue of new ordinary shares in the capital of The Innovation Group. MTW's Insurance Systems Group's customers are expected to benefit from the acquisition due to significantly broader product lines, a strategic alliance with IBM and the international reach of The Innovation Group. Recent acquisitions include HUON of Farmington, Conn., and Pyramid Group of Danbury, Conn.Toronto-based DWL Inc., a provider of transactional customer relationship management solutions to carriers and financial service providers, has struck an alliance with Palo Alto, Calif.-based Sun Microsystems Inc. The alliance makes available what the two partners call the industry's first Enterprise JavaBeans architecture-based transactional customer relationship management (CRM) solution. It was designed to enable financial services and insurance companies to leverage and consolidate back-end legacy and administrative systems to create personalized portals that support key CRM functionality.
InsLogic Corp., a Columbia, S.C.-based provider of turnkey, private label e-insurance agency solutions, has inked an arrangement that enables it to provide insurance services and products to customers of Atlanta-based Wachovia Bank, N.A., a provider of banking services and the principal banking subsidiary of Wachovia Corp. The products will be marketed through the bank's subsidiary, Wachovia Insurance Services Inc. The InsLogic partnership will enable Wachovia customers to purchase insurance products through InsLogic's insurance sales and service center, with the live assistance of licensed customer service representatives.
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