Technology company completes £40m acquisition

A Worcestershire technology business has completed the £40m acquisition of a UK software company.

Worcester-based insurance technology provider, Open GI invested the money in Winchester-based Transactor Global Solutions (TGSL Group) in April.

The company employs around 200 people across its UK offices in Winchester and Milton Keynes, plus locations in Poland and Macedonia. All have now transferred to the Open GI Group.

TGSL was established in 2003 and is said to offer one of the most advanced and innovative Policy Administration and Rating platforms in the UK General Insurance market.

Open GI said the acquisition was part of its ongoing investment to provide customers with cutting-edge, market leading solutions.

Commenting on the deal’s completion, Open GI’s Group CEO, Chris Guillaume said: “Open GI continually strives to develop smarter solutions for Ratings, Policy Administration and digital eCommerce for our customers. The combination of Open GI with TGSL will give our customers a significant advantage as we present something truly new to the market.

“The General Insurance market is currently undergoing a period of transformational change driven by the use of new technologies.

“Our enlarged group will comprise of nearly 600 people ensuring our market-leading level of investment in research and development continues.”