Whitehill Acquires Metaserver Assets
NU Online News Service, May 4, 1:10 p.m. EDT--Whitehill Technologies Inc., a provider of document composition and data transformation software, announced it has acquired the technology assets of Metaserver Inc.
According to Whitehill, based in Moncton, NB, Canada, it now owns the patented technology platform behind Metaserver's suite of business process integration software and solutions for the insurance industry. Whitehill said it will use the acquired technology to further the company's penetration into its key markets, including insurance, legal and financial services.
Whitehill said the Java-based platform is a proven technology in the insurance sector, where Metaserver has been deploying solutions "that have enabled insurance carriers and their field agents to exchange quotes, claims and other critical business information in real time and at half the cost of traditional approaches, resulting in faster time to market and superior customer service."
The acquisition is Whitehill's first since the company landed $4.1 million in a Series B funding round in November, the company said. Paul McSpurren, president and chief executive officer of Whitehill, added that he expects the acquisition to lead to the creation of up to 10 jobs at its corporate headquarters.
The company declined to disclose the price of the assets purchase. Jim Laffoley, vice president of marketing and business development for Whitehill, however, said this was a cash deal.
Whitehill Technologies Inc.'s software automatically extracts any type of data, transforms it, renders it into any format required, and distributes it to wherever it is needed, the company said.
Metaserver, based in North Haven, Conn., has been a provider of business process integration software and solutions for the insurance industry. Mr. Laffoley noted, "The company has wound down and is not doing business as Metaserver."
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