(Façade of the Taj Mahal hotel Mumbai. Image credit: PDPics.)
Majesco (Morristown, N.J.), a global provider of cloud-based insurance software core, data and digital solutions, has announced that it has acquired the India based insurance software business from its parent company, Majesco Limited (Mumbai). The business will be acquired by Majesco’s wholly owned subsidiary in India, Majesco Software Solutions India Private Limited (MSSIPL, Mumbai), subject to statutory approvals including approval of the shareholders of Majesco Limited and shall be effective from April 1, 2019.
Majesco CEO Adam Elster days the acquisition of the India Business and consolidation under the operating entity will ensure the vendor’s ability to maintain a sharper focus on its global solutions and capabilities, enabling it to deploy best practices and achieve operational synergies.
Wider Selection of Solutions
“We view this acquisition as part of Majesco’s vision to build the future for insurance and look forward to maximizing our potential as a leading digital transformation player,” Elster comments. “Majesco’s strength, coupled with its complementary suite of innovative digital solutions and deep insurance industry expertise means we can offer a wider selection of solutions to new and existing clients and provide greater career opportunities for our committed team.”