Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property and Casualty (P&C) insurers, today announced it has entered into a definitive agreement to acquire ISCS. The acquisition will enhance Guidewire’s ability to serve those P&C insurers that prefer a cloud-based, all-in-one system supporting the insurance lifecycle.
“Like Guidewire, ISCS is a software company focused exclusively on serving P&C insurers,” said Marcus Ryu, chief executive officer, Guidewire Software. “Their technology and expertise will enable us to provide a new option to our customers and augment our progress in delivering cloud-based products. We are excited by the opportunity to welcome the ISCS team and customers to our community.”
“We look forward to joining Guidewire and continuing our mission of serving P&C insurers,” said Andy Scurto, CEO and founder, ISCS. “The breadth of Guidewire’s offerings and the scale of its organization will enable us to provide additional value to our customers. We also appreciate the strong affinity between the companies in terms of focus and culture.”
The transaction is anticipated to close in approximately 60 days.
Conference Call Information
Management will hold a conference call and webcast today to discuss this transaction.
When: Monday, December 19, 2016 Time: 2:30 p.m. PT (5:30 p.m. ET) Live Call: (877) 397-0298, Domestic (719) 325-4789, International Replay: (877) 870-5176, Passcode 9622048, Domestic (858) 384-5517, Passcode 9622048, International Webcast: http://ir.guidewire.com (live and replay) The webcast will be archived on Guidewire’s website for a period of three months.
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 400 insurers, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.