With its global presence, reputation, and extensive IT solution and services resources, NTT DATA is an ideal partner. Further, FirstApex’s advanced J2EE-based enterprise software and specialized operations center in Bangalore will serve as a ‘springboard for NTT DATA Group's entry into Asia's Property and Casualty and Re-Insurance Markets’.
Bellevue/Bothell, WA (Vocus) June 16, 2010
Corum Group Ltd. today announced the acquisition of a majority interest in its client, Apex Systems Pte Ltd (“FirstApex”) by NTT DATA Asia Pacific Pte. Ltd. (“NTTDAP”), a subsidiary of NTT DATA Corporation. NTTDAP acquired shares of FirstApex in a strategic transaction as part of the expansion of its global strategy to significantly grow its insurance solution business in Asia. With this acquisition, FirstApex has become an NTT DATA Group company. FirstApex is a leading vendor of software and solutions to the insurance industry in Asia.
“Building on established operations in Japan, Korea, China, and India, FirstApex has ambitious plans to expand throughout Asia as well as the Middle East and Eastern Europe,” said Mark Reed, executive vice president of Corum Group. “With its global presence, reputation, and extensive IT solution and services resources, NTT DATA is an ideal partner. Further, FirstApex’s advanced J2EE-based enterprise software and specialized operations center in Bangalore will serve as a ‘springboard for NTT DATA Group's entry into Asia's Property and Casualty and Re-Insurance Markets’.”
Reed also stated, “Corum is excited about the dynamic technology sector in Asia. The region’s software industry is sophisticated, producing world-class technology in all categories. However, world-class software companies are built through acquisitions; organic growth alone is not enough. We’ll see a lot more M&A in Asia’s software industry, and we plan to help Asian companies looking to take advantage of global M&A trends to join with the North American and EU companies to create the software leaders of the Pacific Century.”
About Corum Group
Corum Group Ltd. is the global leader for software mergers & acquisitions, specializing in serving tech companies worldwide for the last 25 years. "Experience makes the difference" with Corum, enabling the firm to deliver a proven mergers and acquisition process for its clients all over the world. From its offices in 8 countries the firm has completed over 225 software M&A transactions reaching across 6 continents. Corum's M&A advisors are experienced software company executives themselves, who work with the support of the software M&A industry's best researchers, writers and valuation experts, using the world's most comprehensive database of tech company buyers. This knowledge, Corum's experience, and its industry expertise, together ensure unequaled success in for its clients. Corum also educates the software industry with conferences and publishes the most widely distributed software M&A research, including its Monthly Tech M&A Webinar.
About FirstApex Group
Based in Singapore, FirstApex is a leading SEI CMM Level 4 certified provider of enterprise-wide IT solutions and services dedicated solely to the Insurance Industry. FirstApex's IT solutions and services are spread across the entire Insurance value chain that includes personal and commercial lines in Property & Casualty, Professional Reinsurance, Life and Health Insurance businesses.
About NTT DATA Asia Pacific Group
NTT DATA Asia Pacific Group, headquartered in Singapore, is a leading IT solutions and service provider in system consultation and design. NTT DATA Group companies, headquartered in Japan, provide a full range of IT services within the Asia-Pacific region and on a global basis to NTT DATA Group customers.
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