Sircon Snares Kaplan Compliance

Looking to round out its compliance offerings, Vertafore has acquired Indianapolis-based Kaplan Compliance Solutions (KCS), an operating unit of Kaplan University’s School of Professional and Continuing Education (KU PACE).

Kaplan’s assets will be merged those of Sircon, a wholly owned Vertafore subsidiary which was acquired in 2008 and specializes in producer lifecycle management.

Vertafore President and CEO Euan Menzies says the merged entity will be better able to assist customers in managing compliance risk and growing revenue. “We are committed to continuing full support of and investment in both KCS and Sircon products and look forward to providing the combined client base with an extremely robust and innovative solution,” Menzies said in a statement. “By integrating KCS into Sircon, Vertafore will provide all customers with the broadest, most comprehensive and proven best-in-class compliance solutions in the industry.”

As part of the acquisition, expected to close late Q3 or early Q4 2011, Vertafore entered into a joint marketing agreement with KU PACE, deeming it the preferred education services provider for KCS/Sircon customers.

 “This acquisition is mutually beneficial for KCS and Vertafore’s Sircon business because it brings to the market a comprehensive and complementary set of compliance and education capabilities,” said Dr. Andrew Temte, CFA, president of KU PACE. “KCS securities functionality and business process outsourcing (BPO) capabilities combined with the real-time competencies of the Sircon business are the ingredients for innovation that will propel productivity gains for the entire compliance community.”