Quote from the article; (Thanks Burt)
"JERSEY CITY, N.J. Aug. 10 — ISO has acquired the assets of Xactware, Inc., the leading provider of estimation software and services for the property insurance, remodeling and restoration industries. Terms were not disclosed.
The privately held company and its more than 230 employees will continue operating at its current headquarters in Orem, Utah, as a stand-alone entity, serving its extensive customer base of property insurers, contractors and service providers throughout the United States and Canada.
Founded in 1986, Xactware’s customers now include 16 of the top 20 property insurers and approximately 80 percent of insurance repair contractors and service providers. During the record-breaking hurricane seasons of 2004 and 2005, Xactware’s products were used to settle more claims than all its competitors combined.
“Xactware enhances ISO’s ability to deliver more comprehensive products and services to our property insurance claims customers,” said Frank J. Coyne, ISO chairman, president and chief executive officer.
“Xactware has a very attractive combination of market-leading products and services, proprietary databases, a solid customer base and a superb management team,” said Coyne." |