Majesco to acquire Vitech
Majesco has entered into an agreement to acquire Vitech, a provider of cloud-native pension and benefits administration software. Combined, Majesco will serve more than 375 customers including over 100 customers across the L&AH segment and over 275 customers across the P&C segment. The combined product portfolio will deliver greater value to insurers operating across both the P&C and L&AH market segments, with over 40% of insurers operating in both segments.
Majesco is a portfolio company of Thoma Bravo , a software investment firm, and Vitech is a portfolio company of CVC, a global private equity and investment advisory firm. As part of this transaction, CVC Funds will make a minority investment into Majesco to further the combined company’s growth and innovation.
Majesco highlights that the addition of Vitech’s pension and benefits capabilities, paired with its own cloud and AI technology, will support insurers in the US, Canada, and the UK. Several customers already use products from both companies. The company says the integrated portfolio is designed to help insurers manage rising operating costs and modernize for an AI-driven market, with an emphasis on speed to market, lower expense ratios, and more flexible product and operational models.
“We’re thrilled to bring together the pre-eminent technology solutions in the Group & Benefits and Retirement & Pension sectors, which will help the L&AH segment, and our customers fast-track their growth, operational efficiencies, innovation, and customer excellence strategies. Together with our P&C intelligent solutions, we will strengthen our offering of cutting-edge, intelligent, and market-leading solutions that redefine businesses for a new era of insurance.” – Adam Elster, CEO of Majesco.
“The industry is facing significant change and opportunity that requires solutions to drive operational efficiencies and innovation. The united team will bring the talent, extensive knowledge, market experience, and innovative solutions crucial for insurers’ profitable growth. We are thrilled for our joint customer base and the opportunities ahead for the broader market.” – James Ousley, CEO of Vitech.