Majesco announced it has closed its previously announced acquisition of Vitech, adding cloud-native pension and benefits administration capabilities and expanding Majesco’s presence beyond P&C and life, annuity and health (L&AH) insurance technology into Group & Benefits and Pension & Retirement.
Majesco said the combination broadens its next-generation core platform portfolio and is intended to help insurers and benefits administrators lower expense ratios, streamline complex operations, speed product innovation, and respond more quickly to regulatory and customer changes. The company positioned the deal as strengthening its AI- and cloud-native roadmap across multiple insurance and retirement segments, noting it recently announced plans to quadruple its AI investment to accelerate its P&C roadmap.
The transaction also included a minority investment in Majesco by CVC Funds, which Majesco said will provide additional resources to support continued expansion and innovation across its AI-native product portfolio.
Support: Kirkland & Ellis served as legal advisor to Majesco and Thoma Bravo. White & Case advised CVC Capital Partners. RBC Capital Markets acted as financial advisor to Vitech.
KEY QUOTES:
“We are thrilled to officially welcome Vitech to Majesco. This is a powerful moment for our customers as we significantly expand into new markets and add capabilities and expertise to drive innovation, growth, and efficiency. We’re bringing unmatched AI-leadership and expertise across P&C, Group & Benefits, and Pension & Retirement to support our customers and the market in the new era.”
Adam Elster, CEO, Majesco
“This marks an important milestone for both organizations. Our combined talent and solutions portfolio create a powerful foundation to improve efficiency, extend capabilities, and prepare for a rapidly evolving market. We’re excited to join Majesco and about the unique possibilities it brings to our customer base.”
James Ousley, CEO, Vitech
