Vertafore has announced the acquisition of Keal Technology, a provider of broker and commercial management systems in Canada.
More than 500,000 insurance professionals currently use Vertafore's suite of agency management systems, the company said. The move extends Vertafore's customer base north of the border, and follows the purchase of QQsolutions, a Florida cloud software provider, less than 12 months ago.
"Keal's products were built specifically for the Canadian marketplace. As part of this acquisition, Keal will join Vertafore, but importantly, maintain its own brand and identity which have strong reputations and recognition in the Canadian market already," said Jeff Hawn, chairman and CEO of Vertafore. "Together, we will bolster Keal's growth efforts while helping them accelerate their market presence."
Vertafore’s acquisition of Keal Technology is scheduled to be completed by the end of March. The company is backed by TPG Capital, a global private investment firm with more than $70 billion in capital.
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