The Montreal financial services software firm Equisoft has acquired Universal Conversion Technologies.
Equisoft offers integration services for life, annuity, and health insurers and wealth management companies. It also develops and markets tools that help advisors provide illustrations and financial needs analysis. On Jan. 4, Equisoft purchased Universal Conversion Technologies (UCT) for an undisclosed amount. UCT is based in Dallas and provides data migration services to the financial services and insurance industries.
In a press release announcing the transaction, Equisoft said that as a result of the purchase it now offers one of the largest specialized life and annuity services teams in North America.
"With the acquisition of UCT, EquiSoft will benefit from the expertise, methodology and technology of the only insurance-specialized data migration integrator in North America," comments Equisoft president and CEO Luis Romero. "Since the two organizations have already partnered on several conversion projects we know the teams share the same philosophy that the right project team composed of industry experts can reduce risks and costs and accelerate time to market"