This morning, SAP AG announced plans to acquire Camilion, a provider of insurance product development, product lifecycle and underwriting solutions, and a company SAP has worked with since 2008.

SAP said the transaction will broaden its portfolio in the insurance space, including offering integrated core insurance platform suite called SAP Business All-in-One solution for Insurance. It will include comprehensive integrated capabilities from strategy through finance to operations powered by leading-edge in-memory and mobile technologies, available both in the cloud or on premise, SAP said.

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