Majesco

Majesco Inc.
Formerly called
 MajescoMastek (2005–14)
Public
Traded as NYSE MKT: MJCO
Industry Software industry
Founded February 15, 2005 (2005-02-15)
Founder Ketan Mehta
Headquarters Morristown, New Jersey, U.S.
Area served
 Worldwide
Key people
  • Ketan Mehta (CEO)
  • Edward Ossie (COO)
  • Farid Kazani (CFO)
Parent Mastek (2005–14)
Website majesco.com

Majesco Inc. (formerly MajescoMastek) is a multinational provider of insurance technology software, information technology services and consulting to insurance carriers worldwide across lines of business – property & casualty (general insurance), life, annuity, health, pensions, and group & worksite benefits insurance.

History

MajescoMastek, the U.S. subsidiary of global technology solutions provider Mastek was founded in 1992. In 2005, the firm acquired Entegram LLC, a Connecticut-based software company.[1] In 2007, it acquired Vector Insurance Services a technology solutions provider and third-party administrator that focuses on the North American life and annuity insurance industry.[2] Systems Task Group (STG) an IP-based enterprise solutions provider to the North American property and casualty (P&C) insurance industry was acquired in 2008.[3] In 2009, MajescoMastek entered the Canadian Market. SEG Software, LLC, a provider of policy administration systems covering individual and group life, health & annuity insurance products was acquired in 2010.

In 2014, MajescoMastek demerged from Mastek consolidating all of its insurance business internationally under the new brand, Majesco.[4] Majesco acquired the consulting firm Agile Technologies in February 2015.[5] In December 2014, the firm announced the signing of an agreement to merge the business of Cover-All Technologies (NYSE MKT: COVR) with Majesco.[6]

References

  1. ↑ "MajescoMastek Acquires Connecticut Software Company". Businesswire.com. 2005-10-24. Retrieved 2014-01-29.
  2. ↑ "MajescoMastek Acquires Insurance-Focused IT Company". Businesswire.com. 2007-07-16. Retrieved 2014-01-29.
  3. ↑ "Mastek acquires STG for $29 mn". Business-standard.com. 2008-03-11. Retrieved 2014-01-29.
  4. ↑ "MajescoMastek to Consolidate Global Insurance Technology Business". businesswire.com. 23 September 2014. Retrieved 1 July 2015.
  5. ↑ "Majesco Completes Acquisition of Insurance Business of Agile Technologies - Business Wire". businesswire.com. 11 February 2015. Retrieved 1 July 2015.
  6. ↑ "Majesco to merge with Cover-All Technologies; stocks up 20%". moneycontrol.com. Retrieved 1 July 2015.
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