A week after announcing it was acquiring a New York City data business, Wauwatosa insurance technology company Zywave Inc., backed by its new ownership group Clearlake Capital Group, is making another deal.
The company on Tuesday announced it is buying computer software company Insurance Technologies Corp. for an undisclosed price. The deal grows Zywave's global client base to more than 15,000, the company announced, making it its largest acquisition to date and fifth in the last two years.
ITC is based in Carrollton, Texas, and provides website, agency marketing, comparative rating and management software and services. In 2018, ITC received a majority equity investment from tech-focused private equity firm Accel-KKR of Menlo Park, California. Under Accel-KKR, the company made two acquisitions – Acquires Assurance in 2018 and Agency Matrix earlier this year, helping it to grow to more than 250 insurance companies served and more than 9,000 agencies.
“Zywave and ITC share the same goal – to provide the absolute best tech solutions to help insurance professionals succeed in the modern marketplace,” said Jason Liu, CEO of Zywave. “With the combined offerings of our two companies, we are beyond excited to bring the most expansive and innovative tools to any agency selling any type of coverage – benefits, commercial or personal lines.”
