Guidewire to Acquire ISCS

By a News Reporter-Staff News Editor at Insurance Weekly News -- Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property and Casualty (P&C) insurers, 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.

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