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American tech firm acquires Assureweb

American technology firm iPipeline has completed the acquisition of quotation portal Assureweb.

Money Marketing revealed in March that iPipeline was set to acquire the firm from shareholders Prudential, Aegon, Friends Life, Scottish Widows and Aviva.

iPipeline is based in Exton, Pennsylvania and provides software to the insurance and financial services markets. It is backed by NewSpring Capital, Technology Crossover Venture and Volition Capital.

iPipeline chief executive Tim Wallace says: “The strategic acquisition of Assureweb ideally positions iPipeline for entry of our online insurance solutions into the UK, mainland Europe and Asian marketplaces. Our goal is to extend Assureweb’s value proposition and accelerate their market momentum.”

Assureweb chief executive Andrew Simon (pictured) says: “We will continue to focus on making life easier for financial advisers and extending our value proposition to the marketplace by offering several of iPipeline’s industry-leading solutions.”

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Everyone wins with this deal,the historic shareholder structure for AssureWeb made sense at the time but the world has moved on. It’s good news for AssureWeb, their customers, their former shareholders and their new owners, even some of AssureWeb’s competition seem quite positive about it!

  2. I wonder how much money the insurance companies who were bullied into supporting this venture have actually lost.

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