One insurance software company has completed a recently announced deal to acquire a competitor.[@@]
The acquirer, WorldGroup Inc., Emeryville, Calif., has scooped up Taliant Software L.L.P., Denver, and renamed the combined entity InsureWorx Inc.
InsureWorx executives predict the company will generate about $40 million in revenue this year.
WorldGroup and Taliant are not discussing the price of the deal. But “the sellers will continue to have some equity participation in the new company,” says InsureWorx President Gary Sherne, who previously was president of WorldGroup.
The ultimate parent of the combined company will be WorldGroup Holdings Ltd.
Both WorldGroup and Taliant have focused on developing systems that can handle tasks such as claim processing and policy administration for workers’ compensation insurers.