Skywire Software has acquired Integrated Insurance Technologies (IIT) from SelectQuote, Inc., a life insurance brokerage firm, in an all cash transaction. IIT is a provider of software products and data exchange services to the life insurance industry. The acquisition continues Skywire's plans for growth in servicing the insurance and financial services industries by expanding its presence in the life sector.

The acquisition complements Skywire's customer base, which includes property/casualty carriers and managing general agencies. More than 50 life insurance carriers use IIT's software and services to support the new-business cycle for life insurance, long-term care insurance, and annuity products, along with 50 general agencies and more than 5,000 independent producers and agencies, and major service providers.

The addition of IIT fits well with Skywire's vision for growth by expanding its reach into the insurance market, according to Patrick Brandt, founder and CEO of Skywire Software. "IIT offers not only complementary products but a team led by industry veterans Ken Leibow and Mike Sladek, who together bring innovation and leadership in developing standards-based software for the life sector," he says.