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HALO to Acquire Unify Insurance Risk Management Division

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

By Staff Writer | Updated on September 17, 2006

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.

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