Vertafore, Inc., a provider of specialized software solutions for the insurance industry, announced today that it has entered into a definitive agreement to acquire all outstanding stock of BenefitPoint, a San Francisco-based provider of benefits software solutions.
By combining the complementary capabilities and taking advantage of Vertafore's financial strength and organizational stability, the two companies will be able to effectively meet the needs of all segments of the benefits agency market and deliver the most comprehensive solution in the industry, said Bothell, Wash.,-based Vertafore.
The acquisition is subject to the satisfaction of normal conditions to closing, the company said. Financial details of the transaction were not disclosed.
According to a Vertafore spokesperson, BenefitPoint's headquarters will be moved to Boulder, Colo. No personnel changes are anticipated, the spokesperson added.
Vertafore delivers solutions to facilitate independent agent productivity and carrier/agent connectivity. Vertafore's principal operating entities are AMS Services, SilverPlume, Custom Insurance Solutions and others.
Further information on Vertafore and its operating entities is available at www.vertafore.com
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