Sword Group has announced the acquisition of the full share capital of privately held AgencyPort. Founded in 2000, AgencyPort provides Web-based software and solutions to property/casualty insurance companies to automate distribution.
With a customer base in excess of 50 insurers, AgencyPort brings Sword Group a development and delivery organization with deep domain expertise and an accomplished management team within the insurance technology industry.
Coinciding with the acquisition, Steve Hauck, co-founder of AgencyPort, will lead Sword's insurance division as CEO in the Americas, and AgencyPort co-founder Eric Harnden will take on the global role of CTO for Sword in insurance. They will join a team of executives from Sword to drive the newly combined division consisting of 350 staffers, pro-forma revenues of more than $77 million in 2009, and forecasted revenue of $100 million in 2010.
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