Frisco, Texas – The consolidation in the vendor arena continues as Skywire Software, making its third major acquisition of the year, snapped up Canadian automation and compliance solutions provider Whitehill Technologies, Inc.
Terms of the deal, which is expected to be complete on or before August 31, 2007, were not disclosed. The acquisition marks Frisco, Texas-based Skywire's ninth over the past four years. Earlier this year, Skywire completed the acquisitions of both Dallas-based Docucorp International and San Francisco-based Integrated Insurance Technologies.
Adding Moncton, New Brunswick-based Whitehill augments Skywire’s already diverse set of offerings for the insurance industry. Whitehill provides document and compliance software that helps insurance carriers improve efficiency and speed of key business processes.
"Whitehill’s strength in compliance was the really exciting thing for us,” Patrick Brandt, president and chief executive officer of Skywire Software, told INN, adding that Whitehill also offered Skywire a complementary customer base.
Whitehill serves more than half of the largest insurance companies in North America. The company's document automation and regulatory compliance software complements Skywire Software's portfolio of software applications and services that assist insurers in managing the lifecycle of a policy.
Skywire Software's enterprise-wide products span a range of key functions including rating and underwriting, policy production and correspondence, real-time data exchange and business intelligence. Customers also leverage the deep domain knowledge and expertise of Skywire Software's professional services team and its state-of-the-art Business Process Outsourcing facilities. Currently, Skywire Software serves more than 1,000 insurance companies.
"It's incredible the number of synergies between Skywire Software and Whitehill's offerings, customers and employees," said Paul McSpurren, president and chief executive officer of Whitehill Technologies.
Current Whitehill customers should expect business to continue without interruption, the company says. However, Brandt notes that many aspects of the integration will be settled in the coming 90 days and previously the company has tended to group its offerings under a single, corporate umbrella.
Skywire Software is a privately-held subsidiary of Hall Financial Group, a $2 billion private, diversified firm. Based in Moncton, New Brunswick, Whitehill is a privately-held, profitable company with a major center in Markham, Ontario, and offices in the U.S. and U.K.
With the acquisition of Whitehill, Skywire Software will employ more than 650 employees and serve nearly 2,500 customers in 45 countries.
Source: Skywire Software
