Mastek subsidiary Majesco to acquire Agile Technologies

Majesco, an wholly-owned subsidiary of Mastek, has signed a definitive agreement to acquire insurance industry-focused IT consulting firm Agile Technologies, for an undisclosed sum.

Majesco is a provider of core systems and services to 100 insurance carriers globally.

The acquisition will enable Majesco to accelerate its global customer support and growth plans. The acquisition is expected to close in January 2015, the company said in a statement.

This acquisition strengthens Majesco's offerings with Agile's strong consulting practice, business process optimization capabilities and additional technology services including data architecture strategy and services, it added.

''Agile has an excellent reputation in the industry with a high quality talent pool of over 50 insurance technology professionals, domain depth and a satisfied customer base,'' said Ketan Mehta, CEO and founder of Majesco.

''Since our founding in 1997, Agile Technologies has sought to meet our customers' broader technology needs across the insurance value chain with a range of software and solutions with global delivery capabilities,'' said Bill Freitag, founder, managing partner and CEO of Agile Technologies.

Agile Technologies has over $9 million in revenues.