Mindtree, a global IT service provider with headquarters in Bangalore, India and Warren, NJ, is acquiring packaged P&C software implementation specialist Discoverture in a $15 million all-cash deal.
The acquisition supports Mindtree’s strategic goal of strengthening its position in the P&C vertical, which is one of its top four target markets.
According to Paul Gottsegen, SVP and CMO at Mindtree, Discoverture’s strong practice in core systems modernization complements the company’s existing capabilities in data analytics and digital customer engagement.
“Mindtree has proven expertise in supporting the kind of IT transformation insurance companies must undertake to thrive in a rapidly changing global market,” said Gottsegen. “By adding Discoverture’s world-class packaged systems implementation capabilities to our solutions-and-services portfolio, we are better equipped than ever to assist clients seeking to leverage emerging technology opportunities across all dimensions of the insurance business.”
More specifically, the Discoverture acquisition gives Mindtree access to 300 technical specialists with experience and expertise in a broad range of core P&C software solutions from Accenture, FirstBest, Systema and others.
Mindtree is also gaining the opportunity to cross-sell Discoverture’s 15 insurance industry clients, which include Southern Trust and RLI, a broader range of solutions—including Big Data analytics and integrated mobile apps.
“We are excited to be part of the Mindtree team and add our technology and expertise to its large and growing insurance practice,” said Discoverture President Steve Addair. “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.”
