HALO Technology Holdings, Inc., has entered into a definitive agreement to acquire the insurance risk management and ViaMode divisions of Unify Corp. as part of a simultaneous transaction in which Unify also will acquire Gupta Technologies, LLC. In addition to the two business units, HALO will receive five million shares of Unify common stock, $5 million in cash, and 750,000 warrants to acquire Unify stock. With the announcement, Unify and HALO have terminated the merger agreement they announced in March.

The insurance risk management division of Unify develops and markets NavRisk, a policy administration and underwriting system for the alternative risk market. IRM will join with HALO subsidiary DAVID Corp. to deliver comprehensive risk management solutions designed to reduce claims costs. As a combined organization, DAVID and IRM will have more than 100 customers and a broad set of solutions for automating, managing, and streamlining policy and claims information and business processes.

"We are excited to have Unify's insurance risk management division join the DAVID team and leverage its expertise in policy administration and underwriting with DAVID's history in claims management to create powerful risk management solutions," says DAVID president and CEO Alex Aminian. "The acquisition builds upon DAVID's vision of extending the enterprise beyond claims. Combining DAVID and IRM enables us to accelerate time to market in delivering integrated, business process-based risk management solutions that customers require to increase their profitability, customer satisfaction, and competitiveness."