Insurance technology firm Next Level Solutions (NLS) has acquired BriteCore systems integrator Root Signa. Financial terms of the deal were not disclosed.
This is technology M&A deal number 932 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Next Level Solutions Acquires Root Signa
Next Level Solutions, founded in 2018, is based in Springfield, Missouri. The company has 298 employees listed on LinkedIn. Next Level’s areas of expertise include Duck Creek implementations, solution architecture, requirements gathering, property and casualty insurance, policy, billing, claims, quality assurance and DevOps.
Root Signa, founded in 2019, is based in Ozark, Missouri. The company has two employees listed on LinkedIn. Root Signa specializes in the implementation and core support of solutions in the InsurTech industry with a focus on BriteCore.
The deal will enable NLS to scale and grow NLS' BriteCore offering. After the acquisition, Johns will become director of BriteCore Technologies at Next Level Solutions, the companies said.
NLS and Root Signa: Executive Perspectives
Michael Smith, NLS COO, commented on the news:
"We have built a reputation in the core P&C systems market and have begun to diversify our offerings. NLS will be able to apply the breadth of our solution delivery teams and processes to this technology, enabling us to fully serve clients in this space."
Thomas Johns, Root Signa owner and CEO, stated of the acquisition,
"NLS has seen unparalleled growth and has proven they're capable of discovering client needs and implementing custom, dynamic, and elegant solutions. Their company motto is Do Good Work. I believe that motto aligns perfectly with where we've come at Root Signa and where we plan to go in the future."
NLS CEO Chris Sawyer added:
"The addition of a BriteCore offering compliments what we are already doing and marries well with our onshore/nearshore approach. As we strive to be the dominant partner in the P&C insurance space, it's acquisitions like this that continually bring us closer to our goal. We're thrilled to be taking Root Signa to the next level."
