Montreal, December 18, 2018 - Equisoft, a leading global provider of digital business solutions for the insurance and wealth industries, is pleased to announce the successful closing of a $12M equity investment by Export Development Canada (EDC). EDC's investment will help accelerate Equisoft's international growth strategy by financing strategic acquisitions, as well as ongoing development initiatives, to allow the company to better serve its global customer base.
"Having an institutional equity investor is a first in the history of the company and was a significant decision for us," said Equisoft CEO Luis Romero. "EDC has been providing insurance solutions to Equisoft for over 10 years, and we knew they were a good partner. More importantly, EDC's international orientation is a great fit with our growth strategy as we look to expand our global platform through continued investment in our people, our products and through international acquisitions. With local representatives in all major regions, EDC can introduce us to organizations around the world who could become great customers or partners. We welcome EDC's investment, and believe it's a testament to our financial strength and growth potential," added Mr. Romero.
"We see great potential in Equisoft as financial organizations around the world modernize their back-office systems, arm their distribution networks with advanced front-end tools, and leverage technology to enhance the customer experience," said Carl Burlock, Senior Vice-President, Financing and International Growth Capital at EDC. "Equisoft is a great fit for our investment program," added Mr. Burlock. "The company has a strong management team, a proven operating platform, and a long term vision to become a global leader through international growth. Our investment will help enable Equisoft's international growth strategy and support a future Canadian global champion."
About EDC
EDC helps Canadian companies go, grow, and succeed in their international business. As a financial Crown corporation, EDC provides financing, insurance, bonding, trade knowledge, and matchmaking connections to help Canadian companies sell and invest abroad. EDC can also provide financial solutions to foreign buyers to facilitate and grow purchases from Canadian companies. For more information, visit www.edc.ca.
About Equisoft
Founded in 1994, Equisoft is a global provider of advanced digital solutions for the insurance and wealth management industries. Recognized as a valued partner by some of the world's leading financial institutions, Equisoft offers innovative front-end applications, extensive back office services and unique data migration expertise. The firm's industry-leading products include WealthElements, InsuranceElements, Kronos Finance, Kronos FNA, Personal Retirement Optimizer and RetireWare. With its business-driven approach, deep industry knowledge and state-of-the-art technology, Equisoft helps financial institutions tackle any challenge in this new era of digital disruption. Equisoft has a growing team of nearly 400 specialized resources based in the USA, Canada, Latin America, South Africa and India. Website: equisoft.com
SOURCE:
Equisoft
José Quiroz, Marketing Manager, 1-888-989-3141, ext. 273, jose.quiroz@equisoft.com
Export Development Canada
Shelley Maclean, (613) 597-7988, smaclean@edc.ca
