Insurance agency technology vendor Vertafore said that its subsidiary Sircon will acquire Indianapolis, Indiana-based Kaplan Compliance Solutions (KCS), which sells insurance and securities software and services. Terms of the transaction were not disclosed.
KCS, an operating unit of Kaplan University’s School of Professional and Continuing Education (KU PACE), offers services for producer contracting, securities registration, insurance licensing and appointing, education tracking, renewal and data management. Kaplan Inc. is a subsidiary of The Washington Post Co. and its largest division.
As part of the acquisition, KU PACE and Vertafore have also entered into a joint marketing agreement. KU PACE will be a preferred education services provider for KCS/Sircon customers.
The acquisition is expected to close late third or early fourth quarter 2011, subject to customary closing conditions.
Vertafore is based in Bothell, Washington. Vertafore says it has 17,000 customers and 500,000 users.
Topics InsurTech Mergers & Acquisitions Tech Training Development
Was this article valuable?
Here are more articles you may enjoy.
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says 
Florida-Based Safepoint Withdraws IPO Just as it Was Expected to Launch 
A Super Yacht Armada Came to Miami, Leaving a Marine Graveyard in Its Wake 
Camp Mystic, Where Texas Floods Killed 28, Files Bankruptcy 
