The move extends Vertafore’s customer base into Canada, further creating an international footprint for the largest software provider in the insurance industry.
“Keal's products were built specifically for the Canadian marketplace. As part of this acquisition,
Keal will join Vertafore, but importantly, maintain its own brand and identity which have strong reputations and recognition in the Canadian market already,” said Jeff Hawn, Chairman and CEO at Vertafore. “Together, we will bolster Keal’s growth efforts while helping them accelerate their market presence."
More than 500,000 insurance professionals trust Vertafore technology every day, utilizing the suite of agency management systems already in the company’s product portfolio including the AMS360® management system, Vertafore® Agency PlatformTM, Sagitta® management system, and QQCatalyst® agency management system. Vertafore has more than 45 years of deep industry expertise and is backed by TPG Capital—a leading global private investment firm with more than $70 billion of capital under management.
The acquisition is expected to close by the end of March 2016 and comes less than a year after Vertafore acquired QQSolutions, a Florida‐based provider of cloud software to independent insurance agencies, and on the heels of over 250 product releases in 2015 across the entire Vertafore product portfolio.
“Our clients will now have the backing of the largest financial player in the industry,” said Pat
Durepos, president at Keal Technology. “The insurance industry is undergoing tremendous change. In times of uncertainty, working with the market leader brings stability to Keal and our over 16,000 broker users. ”
Vertafore has acquired Keal Technology, a leading provider of broker and commercial management systems in Canada.