A big European life, accident and health insurance technology company is acquiring a U.S. benefits tech firm.
Fineos Corp. has agreed to pay $75 million for Limelight Health.
Fineos is a Dublin, Ireland-based company that provides core program administration systems for many large insurers in the United States and Australia.
Limelight is a San Franciso-based company that provides quoting, rating, and underwriting systems for employee benefits insurers.
Fineos says the Limelight deal will help it provide quoting, rating and underwriting services as well as insurance administration systems.
Together, the two companies have about 1,000 employees, according to Fineos.
Limelight’s products for rating, underwriting, and quoting will be available as an optional component of Fineos AdminSuite, while continuing to be available as a stand-alone product that can plug into other companies’ systems, Fineos says.
— Read Ameritas Acquires a Large Dental Benefits Provider, on ThinkAdvisor.