Skywire Software has acquired Integrated Insurance Technologies(IIT) from SelectQuote, Inc., a life insurance brokerage firm, inan all cash transaction. IIT is a provider of software products anddata exchange services to the life insurance industry. Theacquisition continues Skywire's plans for growth in servicing theinsurance and financial services industries by expanding itspresence in the life sector.

The acquisition complements Skywire's customer base, whichincludes property/casualty carriers and managing general agencies.More than 50 life insurance carriers use IIT's software andservices to support the new-business cycle for life insurance,long-term care insurance, and annuity products, along with 50general agencies and more than 5,000 independent producers andagencies, and major service providers.

The addition of IIT fits well with Skywire's vision for growthby expanding its reach into the insurance market, according toPatrick Brandt, founder and CEO of Skywire Software. "IIT offersnot only complementary products but a team led by industry veteransKen Leibow and Mike Sladek, who together bring innovation andleadership in developing standards-based software for the lifesector," he says.