PriyaPatel
TLDR:
Key points:
- Lumera, an insurtech company, is acquiring ITM, a data management and technology solutions provider.
- The acquisition will enhance Lumera’s presence in the UK Policy Administration Systems market.
The latest acquisition news from Lumera reveals their agreement to acquire ITM, an independent provider of data management and technology solutions in the UK Life and Pensions markets. This acquisition represents a significant step in Lumera’s international growth strategy and will boost their capabilities in the UK Policy Administration Systems market. The acquisition will also bring valuable additions to Lumera’s offering, including data analysis, regulatory compliance assessments, platform data migrations, and more.
Full Article:
The latest acquisition news from Lumera reveals their agreement to acquire ITM, an independent provider of data management and technology solutions in the UK Life and Pensions markets. This acquisition represents a significant step in Lumera’s international growth strategy and will boost their capabilities in the UK Policy Administration Systems market. The acquisition will also bring valuable additions to Lumera’s offering, including data analysis, regulatory compliance assessments, platform data migrations, and more. Lumera CEO, Jonas Alfredson, highlights the complementary nature of the two companies and their shared vision for digitalizing the Life and Pensions industry.
ITM brings a skilled team with expertise in retirement and wealth, pensions administration, and technology. The company is also a leader in the UK Dashboards Programme ecosystem, making substantial investments in innovative technology. ITM CEO, Mark Lecompte, expresses enthusiasm about joining forces with Lumera and strengthening their offering to deliver enhanced customer value. Inflexion, a leading European mid-market private equity firm, is the main shareholder of ITM, and post-acquisition, ITM will become a fully integrated Lumera company. Financial terms of the transaction have not been disclosed.
