Xchanging chief executive Ken Lever says acquisition will broaden existing insurance software business Xuber

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Outsourcing firm Xchanging has announced that the CMA has delivered its formal decision to clear the completed acquisition of Agencyport Software Group’s European operations.

The deal was completed in July 2014, but the CMA launched a probe in October 2014 to ensure that the deal did not reduce competition in the marketplace.

Xchanging chief executive Ken Lever said the acquisition would broaden and strengthen Xchanging’s existing insurance software business, Xuber, as well as supporting the company’s strategic objectives to expand its insurance business globally, and to acquire technology and intellectual property that enables greater value generation.

He added: “We are very pleased to have the final CMA decision. We can now re-launch our integration programme to deliver the planned market and synergy benefits. Agencyport brings a highly complementary product portfolio that will expand Xuber’s range.

“We look forward to putting the power of our global presence behind the enlarged portfolio and into the cross-selling opportunities offered by the client base Agencyport brings.”

Xuber executive director Chris Baker added: “We understand the importance of staying ahead in an evolving and competitive global market. Technology is the catalyst for change and the platform to launch organisations into new territories and business models.

“Agencyport is recognised for its forthright culture, commitment to delivery, and openness with clients. Combined with our acquisition of Total Objects, our customers will now be able to engage with a broader team of talented professionals and benefit from an enriched product portfolio.”

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