ConfirmNet™ Corporation, the providers of the CertificatesNow™ service, and XDimensional Technologies Inc. (XDTI) jointly announced a definitive agreement for ConfirmNet to acquire certain assets of XDTI’s subsidiary, VeriCert.
The acquisition provides ConfirmNet with additional technologies and resources for its present certificate of insurance service, CertificatesNow™. The transaction enables both companies to focus on core competencies and to continue to deliver services to the insurance industry in their respective markets. The acquisition will further strengthen ConfirmNet’s position for the creation, delivery and management of certificates of insurance. ConfirmNet will continue its efforts to make CertificatesNow the industry standard solution for certificate processing.
XDTI is focused on NexSure, an agency management solution which, according to the company, offers the sophisticated features and functions that insurance professionals have not found in traditional offerings. NexSure strategically positions the independent agency to leverage the Internet as a powerful business tool, enhancing its organizational effectiveness as well as the value proposition to insurance consumers.
Based in Brea, Calif., XDimensional Technologies, Inc. develops and markets software and other technology solutions, and serves as an applications service provider for the insurance industry. XDimensional’s hosted software and professional service offerings are designed to enable more efficient information management and transaction processing among insurance carriers, independent insurance agents, brokers, and policyholders.
Based in San Diego, ConfirmNet develops and markets innovative Internet solutions for managing complex, high volume, and paper-intensive business transactions. Targeting the insurance industry, the company’s initial offering, CertificatesNow, provides a fully integrated application service provider (ASP) solution for the issuance and management of certificates of insurance for commercial liability and property policies. CertificatesNow enables insurance professionals and their clients to outsource the entire certificate of insurance process, gaining significant cost savings while providing enhanced 24×7 customer service.
Topics Mergers & Acquisitions Market
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