Guidewire Software Inc., a provider of software products for P&C insurers, has acquired Millbrook Inc., a provider of data management and business intelligence (BI) solutions for P&C insurers.
The companies hope the addition of Millbrook’s technology will enable Guidewire’s customers to accelerate the replacement of their legacy core systems and to improve management of operational data in their policy, billing and claims functions. According to the announcement, a modern data management infrastructure can enhance the benefits while reducing the cost, risk and duration of legacy system replacement initiatives, and the Millbrook team has invested 16 years developing data models and solutions for data management and business intelligence optimized for P&C insurance.
“We are very excited about this acquisition from a solution perspective,” said Neil Betteridge, VP of strategy, Guidewire Software. “Data challenges are often viewed as significant inhibitors to legacy system replacement and business transformation. Providing data management and business intelligence capabilities is an ideal complement to the core systems we already provide.”
Guidewire does not expect the acquisition of Millbrook to have a material impact on revenue or non-GAAP profitability in the fourth quarter or full-year fiscal 2013. The company will announce its third-quarter financial results, along with its overall guidance for the fourth quarter and full-year fiscal 2013, on May 28.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access