A large consulting and technology services firm is picking up a large, privately held life insurance software company.
Accenture Ltd., Hamilton, Bermuda, says it has agreed to acquire NaviSys Inc., Edison, N.J.
Accenture is not saying how much it is paying for NaviSys, but it says it hopes to complete the deal within the next 60 days.
NaviSys sells life insurance software systems that handle everything from front-office sales to back-office policy administration.
Accenture wants to keep and improve the NaviSys existing software products, but to help life insurers in North America move away from older computer systems and persuade some to let Accenture run computer services for them, Accenture says.
Accenture plans to put NaviSys in its financial services operating group, which already has relationships with 44 of the world’s 50 biggest insurance companies, Accenture says.
Accenture Insurance Services will supply the business process outsourcing services.