Accelerating innovation and supporting the highest quality delivery
Chicago, IL and Cerritos, CA (January 19, 2016) – Ventiv Technology, the largest global, independent provider of risk, claims and safety software, today announced that it has entered into a definitive agreement to acquire 4iSoft, a proven leader in risk and insurance IT consultancy services.
The acquisition of 4iSoft creates further competitive advantage for both Ventiv Technology and 4iSoft. Clients will continue to experience the same industry leading support they have come to expect from both companies. Going forward, clients will benefit from delivery of continuous innovation at a more rapid pace, faster delivery of new solutions and increased scale to support future growth. The company is now better positioned not just to provide award-winning products like RiskConsole and iVOS, but to improve them at a faster pace and bring completely new technology solutions to market faster.
Focused on the insurance market, 4iSoft has become the partner of choice for quality support services due to its deep industry knowledge, business process expertise, global delivery capability, flexible engagement models and proven credentials. 4iSoft has extensive experience working on domains in claims, including property & liability, workers’ compensation, benefit management and healthcare, as well as risk management information systems (RMIS) implementations.
“4iSoft helps us accelerate both innovation and delivery across all of our solutions, while improving our operational efficiency,” said Stephen Rhee, CEO of Ventiv Technology. “We are already the market leader in software solutions for clients across the globe, and this acquisition represents another important step in our aggressive growth agenda. It is also a reflection of the resources required to meet the global demand for our solutions and scale for anticipated growth over the next several years.”
Said Brijesh Kumar, Founder & CEO of 4iSoft: “Deciding to join with Ventiv Technology was an easy decision as we have already partnered successfully on several projects. With each of those projects, we’ve delivered tremendous value for clients and our teams have demonstrated the ability to work together seamlessly. I’m very excited about what the future holds for 4iSoft as we now grow with Ventiv Technology. And while we take this journey, I’m confident that we’ll continue to serve existing clients with the same or even better quality, agility, and reliability that we’ve built our reputation on.”
4iSoft will retain it’s name and operate as a subsidiary of Ventiv Technology. Kumar will remain CEO of 4iSoft to ensure continuity with clients and will be a key member of the executive management team.