Core insurance processing and data integration and analysis solutions provider Insurity has acquired Canada-based insurance software firm Oceanwide.
Terms of the deal have not been disclosed.
Oceanwide provides insurance software solutions for the global property and casualty insurance industry.
Insurity president and CEO Jeffrey Glazer said: "This acquisition enables us to offer a more robust portfolio of insurance solutions and positions Insurity to better serve smaller insurers, startups, specialty, and niche players as well as the global insurance market."
Oceanwide offers services such as consulting, custom development and integration to existing systems, implementation management, data loading and custom documentation.
It also provides a variety of training tools and personnel, equipment infrastructure and comprehensive hosting, monitoring and production support service, including round the clock multi-lingual help desk support.
Oceanwide CEO Mitchell Wasserman said: "A major asset that we bring to Insurity is our Bridge solution which is configurable by end-users rather than developers.
"Combined with our cloud environment and the backing of Insurity with its financial strength and highly skilled resources we are now able to accelerate the growth of the combined organization, and deliver a broader and deeper set of capabilities to the global insurance market."
Image: Insurity has purchased insurance software firm Oceanwide. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.