IT services provider MphasiS announces it has entered into an agreement to acquire Wyde Corp., an international software vendor and creator of Wynsure, an insurance policy administration solution.

This investment is the second acquisition by MphasiS in the insurance industry vertical, after acquiring AIG Software Systems in 2009. Under the terms of the agreement, MphasiS will hold a 100 percent equity stake in Wyde. The closure of the deal is subject to completion of customary conditions.

Headquartered in Minneapolis, with a research and development center in Paris, Wyde has developed and deployed Wynsure at many of the leading insurance carriers in North America and Europe. Wynsure is a multi-language, multi-currency, customizable software that offers policy administration, claims, and billing solutions across life and Annuities, disability, health, and property & casualty. Wynsure platform can be deployed at an insurance carrier either one business line at a time, or as a complete end-to-end solution.

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