SAN FRANCISCO--WorldGroup, a leading provider of flexible, component software solutions for the insurance industry, today announced that it has submitted a signed, definitive agreement to acquire Taliant Software, LLP. Established in 1992, Denver based Taliant has insurance software applications installed and in production use in insurers throughout both the United States and Canada.
The proposed acquisition of Taliant would represent the marriage of the two major forces in the Workers' Compensation insurance software market. The combined strength of WorldGroup and Taliant, further complemented with both of their track records of success, would offer the Workers' Compensation and Property & Casualty insurance markets a powerhouse team of insurance expertise and an unmatched suite of insurance software solutions.
"We are very excited about the power of the combination of WorldGroup with Taliant. We have completed an intense due diligence effort and believe that this agreement would result in benefits to both our organizations, our respective clients, and the insurance industry as a whole," said Gary Sherne, WorldGroup's President and CEO.
"With our combined Workers' Compensation insurance market share, especially with the State Funds, the new WorldGroup/Taliant entity would be the undisputed industry leader in this market. We look forward to finalizing our agreement in the near future and beginning our work together to gain an even greater market share through our collaborative efforts."
Neil Baker, Taliant's Chief Executive Officer, added, "We are pleased to be able to announce our WorldGroup/Taliant plan to the market. Our combined organization will offer the industry an unmatched arsenal of skills and products, and will enable us to establish a much larger footprint in our market space. We've long respected WorldGroup as a worthy competitor and now look forward to working side-by-side with them to offer the insurance industry the absolute best in insurance software solutions."
Details of the agreement will be announced upon acceptance of the offer and finalization of the proposed acquisition.
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