Technology Holdings is pleased to announce the strategic sale of our client, an EMEA based cloud software leader in the life insurance, pensions and wealth management segment, Exaxe to Majesco, a global leader of cloud insurance technology.
We were thrilled with Technology Holdings, and especially the way you went about your business, professional at all times but yet keeping the personal touch. Since our first meeting, the TH team demonstrated a deep understanding of the digital transformation space and digital insurance technology. The TH team worked tirelessly with us every step of the way from positioning right through to due diligence, contract negotiations and closing. Through their extensive network, we met several potential partners from different geographies and were delighted with the guidance and support TH provided in helping us choose Majesco as our preferred partner. The TH team’s experience combined with their unswerving commitment was instrumental in delivering a successful outcome for us.
Exaxe is an award-winning SaaS provider of software solutions that helps life and pensions companies with digital transformation by allowing them to launch new products faster, administer products more efficiently and respond with greater flexibility to the marketplace. Exaxe’s SaaS based solutions provide full lifecycle support, from automated advice through sales, administration and claims for life, pensions and wealth management product sets. Exaxe solutions support insurers in the UK, Ireland and other European countries. The company has won a number of awards for innovation and technology in the last 3 years.
“We are delighted to join the Majesco family as part of the next phase of growth for Exaxe. We looked long and hard for a partner that shared our view of the digital future for insurance and look forward to maximizing our potential as part of a leading insurance digital transformation player like Majesco. This was an easy decision for us. Majesco’s strength coupled with its complementary suite of innovative digital solutions and deep insurance industry expertise means we can offer a wider selection of solutions to new and existing clients and provide greater career opportunities for our committed team.” commented Norman Carroll, CEO of Exaxe.
“We are delighted to welcome Exaxe founders Norman and Philip along with the amazing talent they bring to our global Majesco team. Together, we’ll focus on bringing continuous innovation to our customers, helping them take advantage of the market opportunities in insurance with cloud and digital transformation,” said Adam Elster, CEO of Majesco. “Exaxe has accelerated the delivery of cutting edge cloud technology to their clients and we are excited to introduce this to the already growing group of Majesco customers and prospects across Europe.”
“There is an undeniable move towards greater adoption levels of cloud-based core insurance solutions across the industry, especially among the mid-tier and below. This acquisition strengthens Majesco’s already deep insurance portfolio and provides them with access to a new client segment in Europe,” commented Jamie Macgregor, CEO, Head of Insurance for Celent. “Having the financial backing of Majesco and access to its technical bench will be a major step forward for the team at Exaxe and their suite of cloud-based products. I’m looking forward to see how the assets evolve and perform in new client deals.”