Customer interaction management solutions provider Servion Global Solutions Ltd has acquired Zurich, Switzerland-based insurtech firm Innoveo AG for an undisclosed amount.
“The acquisition of Innoveo not only strengthens the group’s focus on omnichannel cloud offerings, but also propels us in the insurtech space,” Sameet Gupte, chief executive officer of Servion Global Solutions, said in a statement.
The company would leverage the Innoveo Skye software platform globally along with its existing platforms such as ServIntuit, ServInsights, LCM, U-Nexsys, iAssit and RapCTI, the firm said.
Founded in 2007, Innoveo is an omnichannel cloud software provider in the insurtech space. It has offices in Zurich, Hong Kong and Budapest.
Innoveo Skye is the flagship product of the company. It is offered as a cloud service and has been implemented for major insurance companies as well as insurtech startups in Europe, Asia, Middle East, Africa, Central and North America, according to the statement.
Incorporated in 1991, Chennai-based Servion Global Solutions offers customer experience management solutions. Servion’s solutions handle over 10 billion multi-channel interactions every year across multiple channels and industry verticals, the firm said.
In November 2014, private equity firm Everstone Capital and US-based private equity firm Solmark had agreed to invest Rs 403 crore in Servion.
Everstone Capital made a follow-on investment of Rs 51 crore ($8 million) in May 2017.
Everstone Capital, through its investment vehicle Evertech Pte Ltd, owns a majority stake in the company.