Majesco, a provider of cloud-native and AI-native insurance technology for the P&C and L&AH markets, has finalized its acquisition of Vitech, a specialist in cloud-native pension and benefits administration solutions, a move that significantly broadens Majesco’s market reach into the Group & Benefits and Pension & Retirement segments. The transaction was previously announced.
The acquisition solidifies Majesco’s position as a category leader for next-generation core platforms by integrating Vitech’s offerings. Adam Elster, CEO of Majesco, stated that the transaction expands the company into new markets and adds capabilities and expertise, aiming to drive innovation, growth, and efficiency. He also highlighted the combined entity’s AI-leadership and expertise across P&C, Group & Benefits, and Pension & Retirement sectors.
With the addition of Vitech, Majesco’s product portfolio now includes solutions for the Pension & Retirement market. These expanded offerings are designed to assist customers in reducing expense ratios, streamlining complex operations, accelerating product innovation, and responding more quickly to evolving regulatory and customer demands. The combined entity aims to provide intelligent, cloud- and AI-native solutions to facilitate operational optimization, innovation, and growth.
James Ousley, CEO of Vitech, commented that this milestone creates a strong foundation through combined talent and solutions. He emphasized the potential to improve efficiency, extend capabilities, and prepare for market changes. The close of this transaction marks a new phase of growth for Majesco, with a focus on delivering AI-native innovation and strengthening its technology foundation across P&C, L&AH, and Retirement & Pension markets.
Majesco recently announced plans to quadruple its AI investment to advance its P&C roadmap and enhance customer value. As part of this transaction, CVC Funds have also completed a minority investment in Majesco, providing additional resources to support the ongoing expansion and innovation within Majesco’s AI-native product portfolio.
Kirkland & Ellis LLP served as legal advisor to Majesco and Thoma Bravo. White & Case LLP acted as legal advisor to CVC Capital Partners. RBC Capital Markets provided financial advisory services to Vitech.
