M&A Deal Summary

Majesco Acquires ClaimVantage

On January 7, 2021, Majesco acquired software company ClaimVantage

Acquisition Highlights
  • This is Majesco’s 3rd transaction in the Software sector.
  • This is Majesco’s 3rd transaction in the United States.
  • This is Majesco’s 1st transaction in Maine.

M&A Deal Summary
Date 2021-01-07
Target ClaimVantage
Sector Software
Buyer(s) Majesco
Deal Type Add-on Acquisition

Target

ClaimVantage

Portland, Maine, United States
ClaimVantage is a provider of life and health claim management software, as well as absence management solutions to insurance carriers, TPAs, and large employers. ClaimVantage was founded in 2005 and is based in Portland, Maine.

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Buyer(S) 1

Buyer

Majesco

Morristown, New Jersey, United States
Category Company
Founded 1992
Sector Software
Revenue 140M USD (2019)
DESCRIPTION

Majesco provides technology, expertise, and leadership that helps insurers modernize, innovate, and connect to build the future of their business and the future of insurance at speed and scale. The company's platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling, and personal. Majesco was founded in 1992 and is based in Morristown, New Jersey.

DEAL STATS #
Overall 4 of 7
Sector (Software) 3 of 3
Type (Add-on Acquisition) 3 of 6
State (Maine) 1 of 1
Country (United States) 3 of 5
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-30 InsPro Technologies

Eddystone, Pennsylvania, United States

InsPro Technologies Corp. offers InsPro Enterprise, an end-to-end, web-based policy administration system used by insurance carriers and third-party administrators. By managing the entire product and policy lifecycle on a single integrated platform, customers are afforded opportunities to accelerate new product introductions, lower costs, increase customer satisfaction and improve operational performance. InsPro’s solutions are offered through standard software licensing, as a hosted solution, or via Software as a Service (SaaS) delivery.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-20 Utilant

Buffalo, New York, United States

Utilant is a provider of the P&C insurance industry’s premier loss control survey management through its LossControl360 SaaS solution. Utilant was established in 2005 and is based in Buffalo, New York.

Buy -
Mergr

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