Sword Group has announced the acquisition of the full sharecapital of privately held AgencyPort. Founded in 2000, AgencyPortprovides Web-based software and solutions to property/casualtyinsurance companies to automate distribution.

With a customer base in excess of 50 insurers, AgencyPort bringsSword Group a development and delivery organization with deepdomain expertise and an accomplished management team within theinsurance technology industry.

Coinciding with the acquisition, Steve Hauck, co-founder ofAgencyPort, will lead Sword's insurance division as CEO in theAmericas, and AgencyPort co-founder Eric Harnden will take on theglobal role of CTO for Sword in insurance. They will join a team ofexecutives from Sword to drive the newly combined divisionconsisting of 350 staffers, pro-forma revenues of more than $77million in 2009, and forecasted revenue of $100 million in2010.

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