MphasiS to Acquire Policy Admin Provider Wyde

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.