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ILOG Invests in Prima Solutions

ILOG announced it will pay $4.1 million to acquire 33 percent ownership in Prima Solutions, a Paris-based provider of insurance software platforms. ILOG expects the move to strengthen the partnership

By Staff Writer | Updated on October 12, 2006

ILOG announced it will pay $4.1 million to acquire 33 percent ownership in Prima Solutions, a Paris-based provider of insurance software platforms. ILOG expects the move to strengthen the partnership between the two companies and support the deeper penetration of ILOG’s business rule management systems (BRMS) in the insurance industry through a closer business and technical relationship. Prima also is an ILOG independent software vendor (ISV) partner. Prima developed Prima IBCS, an insurance object model used by insurance carriers to build underwriting and claims-processing applications. The model is designed to reduce the costs and risks associated with the deployment of a distributed SOA through an incremental approach. It is the result of several years of research and development covering 100 core processes and 1,000 classes spanning life, property/casualty, and reinsurance. ILOG reports the agreement will have no material impact on net revenues or operating expenses, and the transaction is not expected to have a significant impact on the company’s FY07 net income.

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