Equisoft, a provider of digital business solutions for the insurance and wealth industries, announced April 11 that it has acquired Kronos Technologies, a company that develops web and mobile applications for the investment and insurance sectors.
Kronos Technologies is particularly known for its customer relationship management (CRM) application, Kronos Finance, and financial needs analysis (FNA) tool, Kronos FNA. Kronos Finance has a client base of more than 12,000 users, says the company.
Luis Romero, Equisoft Founder & CEO, says the acquisition will benefit clients from both companies. “This is really a situation where the whole is greater than the sum of its parts…By bringing together our respective teams’ skillsets and leveraging the complementarity of our offerings, we are convinced we can better serve our current and future clients in the insurance and wealth management sectors.”
“Equisoft’s global presence provides great opportunities for our CRM and Financial Needs Analysis tools, as well as our team,” says François Levasseur, CEO of Kronos Technologies. “While we expect to increase our sales and marketing activities through Equisoft’s worldwide network, our combined offering will facilitate a vertical integration among investment product manufacturers, insurance carriers, distributors, advisors and investors.”
Romero says that the addition of Kronos Technologies’ CRM component to Equisoft’s product line will enable the company to provide financial professionals with an integrated offering. “We’ve always liked what Kronos did on the front end. They bring the missing pieces to our platforms. Their expertise will help Equisoft improve its user interfaces and overall user experience, and Kronos will gain international exposure through our client base in the USA and overseas. It’s a win-win for both companies.”