Guidewire Software acquired ISCS, Inc. for approximately $154.9 million cash consideration, net of certain adjustments, a transaction completed in February 2017, structured as all cash.
ISCS, Inc. operates in Cloud core systems / all-in-one P&C platform, is based in USA. ISCS is a software company focused exclusively on serving P&C insurers. Its cloud-based, all-in-one transactional platform combines policy, billing, and claims management functionality, and was rebranded by Guidewire as InsuranceNow.
The acquisition enhanced Guidewire's ability to serve P&C insurers that prefer a cloud-based, all-in-one system supporting the insurance lifecycle, and augmented progress in delivering cloud-based products.
A proven cloud-native, all-in-one core system gave Guidewire an immediate cloud offering (InsuranceNow) for insurers wanting a single integrated platform with limited IT support. Rebranded as Guidewire InsuranceNow, a cloud-based all-in-one solution.
Like Guidewire, ISCS is a software company focused exclusively on serving P&C insurers. Their technology and expertise will enable us to provide a new option to our customers and augment our progress in delivering cloud-based products.Marcus Ryu, Chief Executive Officer, Guidewire Software
We look forward to joining Guidewire and continuing our mission of serving P&C insurers. The breadth of Guidewire's offerings and the scale of its organization will enable us to provide additional value to our customers.Andy Scurto, CEO and Founder, ISCS
Advisory firms were not disclosed for this transaction.