MajescoMastek has acquired Vector Insurance Services L.L.C. for $4.5 million in cash.
MajescoMastek could pay the current owners of Vector, Indianapolis, more money in 2008 and 2009 if the business does well, according to MajescoMastek, Edison, N.J., a unit of Mastek Ltd., Mumbai, India.
Mastek is a large, publicly traded information technology company.