Sircon, a wholly owned subsidiary of Vertafore, has signed an agreement to acquire the assets of Indianapolis-based provider of insurance and securities software and services Kaplan Compliance Solutions (KCS).
KCS, an operating unit of Kaplan University’s School of Professional and Continuing Education (KU PACE), offers software and outsourcing solutions that streamline and automate the complex processes of on-boarding and the producer and representative lifecycle.
As part of the acquisition, KU PACE and Vertafore have entered into a joint marketing agreement whereby KU PACE will be a preferred education services provider for KCS/Sircon customers, allowing the organizations to bring to the market an integrated education/compliance solution.
Vertafore president and CEO Euan Menzies said the acquisition of KCS underscores commitment to delivering services to carriers, broker-dealers and other financial institutions that allow them to efficiently manage their compliance risk while expanding their producer force and generating revenue more quickly.
"By integrating KCS into Sircon, Vertafore will provide all customers with the broadest, most comprehensive and proven best-in-class compliance solutions in the industry," Menzies said.
The acquisition is expected to close late Q3 or early Q4 2011, subject to customary closing conditions.