The transaction to acquire Marshall & Swift/Boeckh's(MSB) claims division has been completed, reports SymbilitySolutions Inc., a wholly-owned subsidiary of Automated BenefitsCorp., provider of claims processing and estimating software forthe property & casualty (P&C) insurance industry,.

MSB is a wholly-owned subsidiary of Decision Insight InformationGroup, Inc.  Decision Insight is indirectly wholly-ownedby Property Data Holdings Ltd., a portfolio company of TPGCapital.

As part of the transaction, Automated Benefits issued 52,189,286common shares with an approximate value of C$18.1 million, to MSBand certain of its affiliates, which represents 30 percent of thecommon shares issued and outstanding immediately following theissuance, after adjusting for issued and outstanding options toacquire common shares.

"This augments Symbility's existing expertise in claimsprocessing, loss estimating solutions, and process analyticstechnologies, making us a stronger alternative in the market. Weare uniquely positioned to provide innovative and flexible toolsthat deliver a better claims experience for insurance carriers,vendors and the entire claims community," says James Swayze, CEO ofSymbility.

In addition, in connection with the Transaction, MSB purchasedby way of a private placement 7,021,530 Common Shares at a price ofC$0.27 per Common Share for aggregate gross proceeds to theCorporation of approximately $1.9 million, which proceeds will beused for general working capital purposes. As a result, PropertyData, indirectly, owns 33.29 percent of the current outstandingcommon shares as of the closing of the transaction and is thelargest shareholder of the corporation.

Two representatives from Decision Insight, a portfolio companyof TPG, and one representative from TPG, have also been elected tothe Automated Benefits board of directors: Chris Cartwright, CEO,MSB and Decision Insight; Chris Jutkiewicz, CTO, Decision Insight;and Nehal Raj, a principal in the technology group of TPG.

"The integration of MSB's loss estimating data with Symbility'sworkflow software to deliver this best-in-class solution, alongwith our investment in Symbility's parent company, reinforces MSB'slong-term commitment to the property claims industry and supportsour strategy to be the premier enterprise information, analytics,and workflow provider to property insurers," saysCartwright.