NTT (News - Alert) DATA Asia Pacific "NTTDAP", a subsidiary of NTT DATA Corporation, acquired shares of Apex (News - Alert) Systems "FirstApex" in a strategic transaction as part of the expansion of its global strategy to significantly grow its insurance solution business in Asia. Software mergers and acquisitions specialist Corum Group saw this deal through.

 

Mark Reed, executive VP of Corum Group said, "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. 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 said, "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."

 

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.

 

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.

 

Read here about how according to a recent research from Datamonitor Group, the financial crisis that has been in the market for last two years shook the financial strength and reputation of U.S. insurance companies.

 

 

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