Insurance plan tech-company Cover-All Technological innovation programs to combine with competing Majesco a cope that will create a function with $100 thousand in yearly revenue and an international reach.
Majesco (formerly MajescoMastek) creator and CEO Ketan Mehta will go chief professional and CEO of the mixed organization, which is predicted to maintain the “Majesco” name.
Cover-All Chairman and CEO Manish Shah are scheduled to be professional vice chairman of the mixed organization, and two Cover-All selected panel members will join the Majesco panel.
Assuming all regulating requirements can be met stockholders accept the cope and Majesco can complete an international reorganization, the cope is predicted to shut in the 2015 second quarter.
Cover-All provides browser-founded family of professional collections plan, company intellect, and statements programs. Majesco offers plan, payments, statements and submission store and talking to for property/casualty lifestyle and health worldwide.
The mixed organization will continue to offer company intellect and data software/technologies in residence victim collections such as personal, professional, and specialized and workers comp businesses. It will also have insurance plan coverage premium and group benefits product promotions and over 150 insurance customers about the world.
One of the considerations to the ending of the merging is for the stocks of Mohasco common stock to be leant for merchandizing on the NYSE MKT.
Last week Majesco declared programs to acquire the company of Nimble Technological innovation; protection industry focused IT talking to firm with earnings of $9 thousand. Nimble has workplaces in New Shirt, Atlanta and Oh. The purchase is predicted to shut in Jan 2015.
Majesco is centered in New you are able to, N.Y., as cover-All has workplaces in Morristown, New Shirt and Honolulu, Hawaii islands.